| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w25372 |
| 来源ID | Working Paper 25372 |
| Venting Out: Exports During a Domestic Slump | |
| Miguel Almunia; Pol Antràs; David Lopez-Rodriguez; Eduardo Morales | |
| 发表日期 | 2018-12-24 |
| 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 Economics ; Trade ; Globalization and International Relations |
| URL | https://www.nber.org/papers/w25372 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/583046 |
| 推荐引用方式 GB/T 7714 | Miguel Almunia,Pol Antràs,David Lopez-Rodriguez,et al. Venting Out: Exports During a Domestic Slump. 2018. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w25372.pdf（9081KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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