Authors:

  • Gita Gopinath

Excerpt

Trade Adjustment and Productivity in Large Crises. Gita Gopinath, May 10, 2013, Paper. "We empirically characterize the mechanics of trade adjustment during the Argentine crisis using detailed transaction-level customs data covering the universe of import transactions during 1996-2008. Though imports collapsed by nearly 70 percent from 2000-2002, the entry and exit of firms or products at the country level (the “extensive margin") played a small role in this adjustment. By contrast, the within-firm churning of inputs (the sub-extensive margin") played a sizeable role, and we highlight significant heterogeneity..."  Link verified March 28, 2014