Contract-Intensive International Trade*
نویسندگان
چکیده
Relation-specific transactions are growing in international trade. It remains unclear how such transactions respond to external shocks differently from ordinary non-relation-specific international transactions, since their contract details are rarely available to researchers. We combine three widely known data sources to tackle this question. We find that shocks are primarily absorbed by the price margin of relation-specific transactions, and by both price and quantity margins of non-relation-specific transactions. The difference in the adjusted margins also results in different passthrough patterns. JEL codes: F2, D8
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