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We analyze how trade affects aggregate volatility using a multi-country, multiindustry, and multi-destination framework. We decompose aggregate output growth risk into destination risk, origin risk, and idiosyncratic risk (and their covariances). We then use this framework to run counterfactuals...
Persistent link: https://www.econbiz.de/10013256580
We develop an empirical framework that allows us to account for producer-country, industry, and demand shocks as drivers of volatility at the industry level in open economies. Our methodology separately accounts for demand shocks originating in the home and foreign markets. Using a panel of...
Persistent link: https://www.econbiz.de/10011657322
We analyze how trade affects aggregate volatility using a multi-country, multiindustry, and multi-destination framework. We decompose aggregate output growth risk into destination risk, origin risk, and idiosyncratic risk (and their covariances). We then use this framework to run counterfactuals...
Persistent link: https://www.econbiz.de/10014347773
Persistent link: https://www.econbiz.de/10013555683
Persistent link: https://www.econbiz.de/10013203259