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Erscheinungsjahr: 
2019
Schriftenreihe/Nr.: 
Bank of Canada Staff Working Paper No. 2019-41
Verlag: 
Bank of Canada, Ottawa
Zusammenfassung: 
Using highly disaggregated transaction-level trade data, we document the importance of new firmlevel trade partner relationships and the addition of new products to existing relationships in driving long-run import flows. Moreover, we find that these margins are sensitive to movements in the exchange rate. We rationalize these findings in a model of international trade with endogenous matching between heterogenous importers and exporters. Simulations of the model highlight a new channel through which exchange rate movements can affect trade - through the short-run formation of new trade relationships and the range of products traded within relationships - which can impact long-run flows.
Schlagwörter: 
International topics
Exchange rates
Firm dynamics
JEL: 
F1
F4
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Dokumentart: 
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