The granular nature of the great export collapse in German manufacturing industries, 2008/2009
AbstractThis paper uses comprehensive high-quality panel data from official statistics for exporting enterprises to investigate the micro-structure of the recent export collapse in manufacturing industries in Germany during the crisis of 2008/2009. Almost all of the decline in exports was due to negative changes of exports in firms that continue to export (i.e. at the so-called intensive margin) while the decrease of exports due to export stoppers (at the so-called extensive margin) was tiny. It is shown that idiosyncratic shocks to very large firms played a decisive role in shaping the export collapse. --
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Bibliographic InfoArticle provided by Kiel Institute for the World Economy in its journal Economics: The Open-Access, Open-Assessment E-Journal.
Volume (Year): 7 (2013)
Issue (Month): 5 ()
exports; great trade collapse; granular economy; Germany;
Other versions of this item:
- Wagner, Joachim, 2012. "The granular nature of the great export collapse in German manufacturing industries, 2008/2009," Economics Discussion Papers 2012-50, Kiel Institute for the World Economy.
- F14 - International Economics - - Trade - - - Empirical Studies of Trade
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
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