| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2647 |
| DP2647 Downstream Competition, Foreclosure, and Vertical Integration | |
| Gilles Chemla | |
| 发表日期 | 2000-12-19 |
| 出版年 | 2000 |
| 语种 | 英语 |
| 摘要 | This paper looks at the responsiveness of a country's export supply to exchange rate changes and measures its quantitative importance by breaking down export adjustments between changes in output levels by existing exporters (intensive margin) and movements due to changes in the number of exporters (extensive margin). Using data on a representative sample of Spanish manufacturing firms, the paper finds sunk costs hysteresis in entry and exit to be an important factor in determining export market participation, but unrelated to exchange rate uncertainty. The sunk costs of entering the market appear to be much larger than the costs of exiting the market. Finally, although hysteresis exists, its effect on the responsiveness of aggregate trade volumes to exchange rate changes is quantitatively small. A 10% home currency depreciation results in an increase in export volume due to the increase in the number of exporting firms of only 1.5% of export volume. |
| 主题 | International Macroeconomics ; International Trade and Regional Economics |
| 关键词 | Hysteresis Exchange rate volatility Entry and exit in export markets Export elasticity |
| URL | https://cepr.org/publications/dp2647 |
| 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/531709 |
| 推荐引用方式 GB/T 7714 | Gilles Chemla. DP2647 Downstream Competition, Foreclosure, and Vertical Integration. 2000. |
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