Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/123234
Authors: 
Chen, Natalie
Juvenal, Luciana
Year of Publication: 
2015
Series/Report no.: 
CESifo Working Paper 5595
Abstract: 
We explore whether the global financial crisis has had heterogeneous effects on traded goods differentiated by quality. Combining a dataset of Argentinean firm-level destination-specific wine exports with quality ratings, we show that higher quality exports grew faster before the crisis, but this trend reversed during the recession. Quantitatively, the effect is large: up to nine percentage points difference in trade performance can be explained by the quality composition of exports. This flight from quality was triggered by a fall in aggregate demand, was more acute when households could substitute imports by domestic alternatives, and was stronger for smaller firms’ exports.
Subjects: 
exports
heterogeneity
multi-product firms
quality
trade collapse
unit values
wine
JEL: 
F10
F14
F41
Document Type: 
Working Paper

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