KTH/CESIS Working Paper Series in Economics and Institutions of Innovation
A note on the granular nature of imports in German manufacturing industries
Abstract: This paper uses an approach recently suggested by Gabaix
(Eonometrica 2011) to investigate for the first time the role of
idiosyncratic shocks to the largest firms in the dynamics of imports by
firms from manufacturing industries. For Germany we find evidence that
imports are power-law distributed and that the distribution of imports in
the industries can be characterised as fat-tailed. Results show that
idiosyncratic shocks to very large firms are important for the import
dynamics in 2010/2011 but not in 2009/2010.
Keywords: Imports; power law; granular residual; Germany; (follow links to similar papers)
JEL-Codes: E32; F14; L60; (follow links to similar papers)
18 pages, October 14, 2014
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