Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/113781 
Erscheinungsjahr: 
2015
Schriftenreihe/Nr.: 
CESifo Working Paper No. 5455
Verlag: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Zusammenfassung: 
We argue that, under certain conditions, firms consider exports as a substitute for domestic demand. Our econometric model for six euro area countries suggests domestic demand and capacity constraints as additional variables for export equations. We apply the exponential and logistic variant of a smooth transition regression model and find that domestic demand developments are relevant for short-run export dynamics particularly during more extreme stages of the business cycle. A substitutive relationship between domestic and foreign sales can most clearly be found for Spain, Portugal and Italy, providing evidence of the importance of sunk costs and hysteresis in international trade.
Schlagwörter: 
domestic demand pressure
error-correction models
hysteresis
modelling techniques
smooth transition models
exports
sunk costs
JEL: 
F14
C22
C50
C51
F10
Dokumentart: 
Working Paper
Erscheint in der Sammlung:

Datei(en):
Datei
Größe
609.25 kB





Publikationen in EconStor sind urheberrechtlich geschützt.