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Trade crisis? What trade crisis?

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journal contribution
posted on 2023-06-08, 23:40 authored by Kristian Behrens, Gregory Corcos, Giordano Mion
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-to-intermediates ratios reveal a comparable collapse of domestic and cross-border operations. Overall, our results reject a crisis of cross-border trade per se.

History

Publication status

  • Published

File Version

  • Published version

Journal

Review of Economics and Statistics

ISSN

0034-6535

Publisher

Massachusetts Institute of Technology Press

Issue

2

Volume

95

Page range

702-709

Department affiliated with

  • Economics Publications

Full text available

  • Yes

Peer reviewed?

  • Yes

Legacy Posted Date

2015-12-04

First Open Access (FOA) Date

2015-12-04

First Compliant Deposit (FCD) Date

2015-12-04

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