Two otherwise identical firms that enter the same market in different months, one in January and one in December, will report dramatically different annual sales for the first calendar year of operations. This partial year effect in annual data leads to downward biased observations of the level...

New empirical and theoretical work has highlighted the importance of multi-product firms in international trade flows. We examine multi-product exporters in the small open economy of Belgium, considering their importance and the relationship between the margins of trade and firm productivity,...

This paper examines the factors that give rise to intermediaries in exporting and explores the implications for trade volumes. Export intermediaries such as wholesalers serve different markets and export different products than manufacturing exporters. In particular, high market-specific fixed...