| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13380 |
| DP13380 Venting Out: Exports During a Domestic Slump | |
| Miguel Almunia; Pol Antras; David Lopez Rodriguez; Eduardo Morales | |
| 发表日期 | 2018-12-09 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | We exploit plausibly exogenous geographical variation in the reduction in domestic demand caused by the Great Recession in Spain to document the existence of a robust, within-firm negative causal relationship between demand-driven changes in domestic sales and export flows. Spanish manufacturing firms whose domestic sales were reduced by more during the crisis observed a larger increase in their export flows, even after controlling for firms' supply determinants (such as labor costs). This negative relationship between demand-driven changes in domestic sales and changes in export flows illustrates the capacity of export markets to counteract the negative impact of local demand shocks. We rationalize our findings through a standard heterogeneous-firm model of exporting expanded to allow for non-constant marginal costs of production. Using a structurally estimated version of this model, we conclude that the firm-level responses to the slump in domestic demand in Spain could well have accounted for around one-half of the spectacular increase in Spanish goods exports (the so-called `Spanish export miracle') over the period 2009-13. |
| 主题 | International Trade and Regional Economics |
| URL | https://cepr.org/publications/dp13380 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542191 |
| 推荐引用方式 GB/T 7714 | Miguel Almunia,Pol Antras,David Lopez Rodriguez,et al. DP13380 Venting Out: Exports During a Domestic Slump. 2018. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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