Venting Out: Exports during a Domestic Slump

نویسندگان

چکیده

We study the relationship between domestic-demand shocks and exports using data for Spanish manufacturing firms in 2002–2013. Exploiting plausibly exogenous geographical variation caused by Great Recession, we find that whose domestic sales declined more experienced a larger increase export flows, controlling firms’ supply determinants. This result illustrates capacity of markets to counteract negative impact local demand shocks. By structurally estimating heterogeneous-firm model exporting with nonconstant marginal costs production, conclude these firm-level responses accounted half spectacular goods over period 2009–2013. (JEL D22, E32, F14, L60)

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ژورنال

عنوان ژورنال: The American Economic Review

سال: 2021

ISSN: ['2640-205X', '2640-2068']

DOI: https://doi.org/10.1257/aer.20181853