A note on the granular nature of imports in German manufacturing industries
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Lüneburg: Institut für Volkswirtschaftslehre der Universität Lüneburg, 2014. (University of Lüneburg Working Paper Series in Economics; No. 312).
Research output: Working paper › Working papers
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TY - UNPB
T1 - A note on the granular nature of imports in German manufacturing industries
AU - Wagner, Joachim
PY - 2014
Y1 - 2014
N2 - 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.
AB - 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.
KW - Economics
KW - imports
KW - power law
KW - granular residual
KW - Germany
M3 - Working papers
T3 - University of Lüneburg Working Paper Series in Economics
BT - A note on the granular nature of imports in German manufacturing industries
PB - Institut für Volkswirtschaftslehre der Universität Lüneburg
CY - Lüneburg
ER -