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evidence of the importance of sunk costs and hysteresis in international trade. …
Persistent link: https://www.econbiz.de/10011300368
We argue that, under certain conditions described by a sunk cost hysteresis model, firms consider exports as a … evidence of the importance of sunk costs and hysteresis in international trade in these EMU member countries. What is more, our … and Portugal) the results underscore the empirical validity of the export hysteresis under uncertainty model. …
Persistent link: https://www.econbiz.de/10011718600
Persistent link: https://www.econbiz.de/10011672432
Using European Commission real-time data, we show that potential output (PO) estimates were substantially and persistently revised downwards after the Great Recession. We decompose PO revisions into revisions of the capital stock, trend labor, and trend total-factor productivity (TFP)....
Persistent link: https://www.econbiz.de/10012026398
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Persistent link: https://www.econbiz.de/10012129867
We argue that, under certain conditions described by a sunk cost hysteresis model, firms consider exports as a … and hysteresis in international trade between the member states of the Economic and Monetary Union (EMU). What is more … (Italy, Greece, and Portugal) the results underscore the empirical validity of the export hysteresis under uncertainty model. …
Persistent link: https://www.econbiz.de/10011778973
Persistent link: https://www.econbiz.de/10012425877