| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7623 |
| DP7623 The Euro and Firm Restructuring | |
| Fabiano Schivardi; Matteo Bugamelli; Roberta Zizza | |
| 发表日期 | 2010-01-10 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | We test whether and how the adoption of the euro, narrowly defined as the end of competitive devaluations, has affected member states' productive structures, distinguishing between within and across sector reallocation. We find evidence that the euro has been accompanied by a reallocation of activity within rather than across sectors. Since its adoption, productivity growth has been relatively stronger in country-sectors that once relied more on competitive devaluations to regain price competitiveness. This effect is robust to potential omitted-variable bias and correlated effects. Firm-level evidence from Italian manufacturing confirms that low-tech businesses, which arguably benefitted most from devaluations, have been restructuring more since the adoption of the euro. Restructuring has entailed a shift of business focus from production to upstream and downstream activities, such as product design, advertising, marketing and distribution, and a corresponding reduction in the share of blue collar workers. |
| 主题 | Industrial Organization ; International Trade and Regional Economics |
| 关键词 | Devaluations Euro Firm restructuring Productivity growth Skill intensity |
| URL | https://cepr.org/publications/dp7623 |
| 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/536460 |
| 推荐引用方式 GB/T 7714 | Fabiano Schivardi,Matteo Bugamelli,Roberta Zizza. DP7623 The Euro and Firm Restructuring. 2010. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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