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The Collapse of International Trade during the 2008–09 Crisis: In Search of the Smoking Gun
| Content Provider | Semantic Scholar |
|---|---|
| Author | Levchenko, Andrei A. Lewis, Logan T. Tesar, Linda L. |
| Copyright Year | 2010 |
| Abstract | One of the most striking aspects of the recent recession is the collapse in international trade. This paper uses disaggregated data on U.S. imports and exports to shed light on the anatomy of this collapse. The paper finds that the recent reduction in trade relative to overall economic activity is far larger than in previous downturns. Information on quantities and prices of both domestic absorption and imports reveals a 40 percent shortfall in imports, relative to what would be predicted by a simple import demand relationship. In a sample of imports and exports disaggregated at the 6-digit NAICS level, the paper finds that sectors used as intermediate inputs experienced significantly higher percentage reductions in both imports and exports. It also finds support for compositional effects: sectors with larger reductions in domestic output had larger drops in trade. By contrast, the paper finds no support for the hypothesis that trade credit played a role in the recent trade collapse. |
| Starting Page | 214 |
| Ending Page | 253 |
| Page Count | 40 |
| File Format | PDF HTM / HTML |
| Volume Number | 58 |
| Alternate Webpage(s) | https://www.imf.org/external/np/res/seminars/2010/paris/pdf/tesar.pdf |
| Alternate Webpage(s) | http://fordschool.umich.edu/rsie/workingpapers/Papers601-625/r608.pdf |
| Alternate Webpage(s) | http://fordschool.umich.edu/rsie/workingpapers/Papers576-600/r597.pdf |
| Alternate Webpage(s) | https://www.dallasfed.org/~/media/documents/institute/events/2010/10levchenko.pdf |
| Alternate Webpage(s) | http://www.parisschoolofeconomics.eu/IMG/pdf/BdF-PSE-IMF_paper_LEVCHENKO-LEWIS-TESAR.pdf |
| Alternate Webpage(s) | http://fordschool.umich.edu/rsie/workingpapers/Papers601-625/r603.pdf |
| Alternate Webpage(s) | http://www.dallasfed.org/assets/documents/institute/events/2010/10levchenko.pdf |
| Alternate Webpage(s) | http://fordschool.umich.edu/rsie/workingpapers/Papers526-550/r530.pdf |
| Alternate Webpage(s) | http://fordschool.umich.edu/rsie/workingpapers/Papers576-600/r592.pdf |
| Alternate Webpage(s) | http://www.palgrave-journals.com/imfer/journal/v58/n2/pdf/imfer201011a.pdf |
| Alternate Webpage(s) | http://www.ltlewis.net/Levchenko_Lewis_Tesar.pdf |
| Alternate Webpage(s) | https://www.parisschoolofeconomics.eu/IMG/pdf/BdF-PSE-IMF_paper_LEVCHENKO-LEWIS-TESAR.pdf |
| Alternate Webpage(s) | http://alevchenko.com/Levchenko_Lewis_Tesar.pdf |
| Alternate Webpage(s) | http://www-personal.umich.edu/~ltesar/pdf/tradecollapse.pdf |
| Alternate Webpage(s) | http://www-personal.umich.edu/~ltesar/pdf/IMFER.pdf |
| Alternate Webpage(s) | https://doi.org/10.1057/imfer.2010.11 |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
