Bolatto, Stefano; Grazzi, Marco; Tomasi, Chiara - 2017
Building on a heterogeneous-firm model à la Melitz (2003), we propose a theory of intermediaries in international trade … result, validated on Italian firm-level trade data, is consistent with productivity sorting in the export mode and with the … intermediary export flows to a given destination react to exchange rate movements along the extensive margin of adjustment …