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Trade crisis? What trade crisis?

Behrens, K, Corcos, G and Mion, G (2013) Trade crisis? What trade crisis? Review of Economics and Statistics, 95 (2). pp. 702-709.

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We investigate the 2008-2009 trade collapse using microdata from a small open economy, Belgium. Belgian exports and imports mostly fell because of smaller quantities sold and unit prices charged rather than fewer firms, trading partners, and products being involved in trade. Our difference-in-difference results point to a fall in the demand for tradables as the main driver of the collapse. Finance and involvement in global value chains played a minor role. Firm-level exports-to-turnover and imports-tointermediates ratios reveal a comparable collapse of domestic and crossborder operations. Overall, our results reject a crisis of cross-border trade per se. © 2013 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology.

Item Type: Article
Divisions : Surrey research (other units)
Authors :
Behrens, K
Corcos, G
Date : 28 October 2013
DOI : 10.1162/REST_a_00287
Depositing User : Symplectic Elements
Date Deposited : 16 May 2017 15:28
Last Modified : 24 Jan 2020 14:44

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