Replication data for: Inventories, Lumpy Trade, and Large Devaluations
Principal Investigator(s): View help for Principal Investigator(s) George Alessandria; Joseph P. Kaboski; Virgiliu Midrigan
Version: View help for Version V1
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Project Citation:
Alessandria, George, Kaboski, Joseph P., and Midrigan, Virgiliu. Replication data for: Inventories, Lumpy Trade, and Large Devaluations. Nashville, TN: American Economic Association [publisher], 2010. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-06. https://doi.org/10.3886/E116091V1
Project Description
Summary:
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We document that delivery lags and transaction-level economics of scale matter for international trade, leading importers to import infrequently and hold additional inventory. In a model with these frictions calibrated to empirical measures of inventory and trade lumpiness, these frictions have a large (20 percent) tariff equivalent, mostly due to inventory carrying costs. These frictions also alter the dynamics of imports and prices. Consistent with evidence from large devaluation episodes in six developing economies, following terms-of-trade and interest
rate shocks, the model generates a short-term implosion of imports and a gradual increase in the retail price of imports. (JEL D92, F14, G31, L81, M11)
Scope of Project
JEL Classification:
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D25 Intertemporal Firm Choice: Investment, Capacity, and Financing
F14 Empirical Studies of Trade
G31 Capital Budgeting; Fixed Investment and Inventory Studies; Capacity
L81 Retail and Wholesale Trade; e-Commerce
M11 Production Management
D25 Intertemporal Firm Choice: Investment, Capacity, and Financing
F14 Empirical Studies of Trade
G31 Capital Budgeting; Fixed Investment and Inventory Studies; Capacity
L81 Retail and Wholesale Trade; e-Commerce
M11 Production Management
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