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Trade Flows and Exchange Rates: Importers, Exporters and Products / Michael B. Devereux, Wei Dong, Ben Tomlin.
- Format:
- Book
- Author/Creator:
- Devereux, Michael B.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w26314.
- NBER working paper series no. w26314
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Trade Flows and Exchange Rates
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2019.
- Summary:
- Using highly-disaggregated transaction-level trade data, we document the importance of new firm-level trade partner relationships and the addition of new products to existing relationships in driving long-run import flows. Moreover, we find that these margins are sensitive to movements in the exchange rate. We rationalize these findings in a model of international trade with endogenous matching between heterogenous importers and exporters. Simulations of the model highlight a new channel through which exchange rate movements can affect trade--through the short-run formation of new trade relationships and the range of products traded within relationships, which can impact long-run flows.
- Notes:
- Print version record
- September 2019.
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