Exports, investment and firm-level sales volatility

被引：12

作者：

Riano, Alejandro ^{[1
,2
]}

机构：

[1] Univ Nottingham, GEP, Nottingham NG7 2RD, England

[2] Univ Nottingham, CESifo, Nottingham NG7 2RD, England

来源：

REVIEW OF WORLD ECONOMICS | 2011年 / 147卷 / 04期

关键词：

Exports; Investment; Uncertainty; UNCERTAINTY; OPENNESS; MARKETS; ENTRY; COSTS; PLANT;

D O I：

10.1007/s10290-011-0104-z

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper presents a dynamic model of risk-averse producers' decision to invest in physical capital and to export. The model features irreversible investment, no capital markets and fixed and sunk costs to export. Several features of the distribution of investment rates and export participation patterns observed in firm-level data are closely matched in a calibration exercise. Counterfactual experiments show that large adjustments in total sales associated with entry into foreign markets increase the volatility of total sales for exporting firms.

引用

页码：643 / 663

页数：21

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