Don’t put all your eggs in foreign baskets

I analyze the sluggish response of exports during and after financial crises using firm level data for two countries-episodes: Argentina 2001 and Peru 1998 crises. I find that both incumbent exporting firms do not expand and that there’s no significant entry of new exporting firms. Furthermore, I pr...

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Detalles Bibliográficos
Autor principal: Camara, Santiago
Formato: Articulo
Lenguaje:Inglés
Publicado: 2020
Materias:
Ciencias Económicas
Macroeconomics
International Trade
Sudden Stops
Macroeconomía
Comercio internacional
Acceso en línea:http://sedici.unlp.edu.ar/handle/10915/111922
Aporte de:
SEDICI (UNLP) de Universidad Nacional de La Plata
id I19-R120-10915-111922
record_format dspace
institution Universidad Nacional de La Plata
institution_str I-19
repository_str R-120
collection SEDICI (UNLP)
language Inglés
topic Ciencias Económicas
Macroeconomics
International Trade
Sudden Stops
Macroeconomía
Comercio internacional
spellingShingle Ciencias Económicas
Macroeconomics
International Trade
Sudden Stops
Macroeconomía
Comercio internacional
Camara, Santiago
Don’t put all your eggs in foreign baskets
topic_facet Ciencias Económicas
Macroeconomics
International Trade
Sudden Stops
Macroeconomía
Comercio internacional
description I analyze the sluggish response of exports during and after financial crises using firm level data for two countries-episodes: Argentina 2001 and Peru 1998 crises. I find that both incumbent exporting firms do not expand and that there’s no significant entry of new exporting firms. Furthermore, I present evidence that suggests that the export elasticity to the real exchange rate is asymmetric, smaller for depreciations than for appreciations. I build and estimate a DSGE model for a small open economy where exporting entrepreneurs are subject to financial frictions and balance sheet effects in order to try and explain these stylized facts. Although these frictions decrease the response of exports to movements in the exchange rate, I use computational exercises to show that they are not enough to explain the empirical results.
format Articulo
Articulo
author Camara, Santiago
author_facet Camara, Santiago
author_sort Camara, Santiago
title Don’t put all your eggs in foreign baskets
title_short Don’t put all your eggs in foreign baskets
title_full Don’t put all your eggs in foreign baskets
title_fullStr Don’t put all your eggs in foreign baskets
title_full_unstemmed Don’t put all your eggs in foreign baskets
title_sort don’t put all your eggs in foreign baskets
publishDate 2020
url http://sedici.unlp.edu.ar/handle/10915/111922
work_keys_str_mv AT camarasantiago dontputallyoureggsinforeignbaskets
AT camarasantiago nopongastodostushuevosencanastasextranjeras
bdutipo_str Repositorios
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