Multi-destination firms and the impact of ...
Type de document :
Compte-rendu et recension critique d'ouvrage
Titre :
Multi-destination firms and the impact of exchange-rate risk on trade
Auteur(s) :
Héricourt, Jérôme [Auteur]
Lille économie management - UMR 9221 [LEM]
Nedoncelle, Clément [Auteur]
Lille économie management - UMR 9221 [LEM]
Economie Publique [ECO-PUB]
Lille économie management - UMR 9221 [LEM]
Nedoncelle, Clément [Auteur]
Lille économie management - UMR 9221 [LEM]
Economie Publique [ECO-PUB]
Titre de la revue :
Journal of Comparative Economics
Pagination :
1178-1193
Éditeur :
Elsevier
Date de publication :
2018-07
ISSN :
0147-5967
Discipline(s) HAL :
Sciences de l'Homme et Société/Economies et finances
Résumé en anglais : [en]
Based on a French firm-level database that combines information on balance-sheet and destination-specific export information over the period 1995–2009, we document a new stylized fact related to the heterogeneous reaction ...
Lire la suite >Based on a French firm-level database that combines information on balance-sheet and destination-specific export information over the period 1995–2009, we document a new stylized fact related to the heterogeneous reaction of exporters to RER volatility: we show that strongly multi-destination firms tend to reduce significantly more their exports to a destination that faces higher exchange-rate volatility. We also show that, following an exchange-rate volatility shock in a given country, strongly multi-destination firms increase exports to all other destinations served. This specific behavior of multi-destination firms has significant aggregate implications. First, the bilateral aggregate impact is increasingly negative with the weight of multi-destination firms in total exports towards the considered destination. Second, the reallocation behavior of large, multi-destination firms ultimately translates into stable total French exports (summed over all destinations).Lire moins >
Lire la suite >Based on a French firm-level database that combines information on balance-sheet and destination-specific export information over the period 1995–2009, we document a new stylized fact related to the heterogeneous reaction of exporters to RER volatility: we show that strongly multi-destination firms tend to reduce significantly more their exports to a destination that faces higher exchange-rate volatility. We also show that, following an exchange-rate volatility shock in a given country, strongly multi-destination firms increase exports to all other destinations served. This specific behavior of multi-destination firms has significant aggregate implications. First, the bilateral aggregate impact is increasingly negative with the weight of multi-destination firms in total exports towards the considered destination. Second, the reallocation behavior of large, multi-destination firms ultimately translates into stable total French exports (summed over all destinations).Lire moins >
Langue :
Anglais
Vulgarisation :
Non
Commentaire :
In Press Codes Jel : F14; F31; G32; L25
Collections :
Source :