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Trade crisis? What trade crisis?
journal contribution
posted on 2023-06-08, 23:40 authored by Kristian Behrens, Gregory Corcos, Giordano MionWe 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.
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Publication status
- Published
File Version
- Published version
Journal
Review of Economics and StatisticsISSN
0034-6535Publisher
Massachusetts Institute of Technology PressExternal DOI
Issue
2Volume
95Page range
702-709Department affiliated with
- Economics Publications
Full text available
- Yes
Peer reviewed?
- Yes
Legacy Posted Date
2015-12-04First Open Access (FOA) Date
2015-12-04First Compliant Deposit (FCD) Date
2015-12-04Usage metrics
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