Scandinavian Working Papers in Economics

Working Paper Series in Economics and Institutions of Innovation,
Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies

No 379: A note on the granular nature of imports in German manufacturing industries

Joachim Wagner ()
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Joachim Wagner: Leuphana University Lueneburg, Germany, and CESIS, KTH, Stockholm, Sweden

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

JEL-codes: E32; F14; L60

18 pages, October 14, 2014

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