Decomposing Aggregate Trade Flows: New Evidence from U.S. Traders

Fariha Kamal and C.J. Krizan

Working Papers from U.S. Census Bureau, Center for Economic Studies

Abstract: Using firm-level data on export transactions, we uncover a rich set of results about the extensive margins of exporting and exporter responses during periods of global downturns. We perform our analysis with respect to firm size, age, ownership status, and sector to emphasize the role of firm heterogeneity. We uncover a larger role for firm entry and exit in changes in annual export flows of single-unit, smaller, and younger firms. Young, small firms perform best during both periods of crises as well as non-crises periods. We also decompose the margins of U.S. imports at the U.S. importer, foreign supplier, and U.S. importer-foreign supplier pair levels. While export flows are closely correlated with global business cycles, import flows more closely approximate U.S. economic cycles. Additionally, both pair and foreign supplier flows are far more volatile than U.S. import flows, that is, U.S. importer-foreign supplier matches experience more churning on average than do either U.S. importers or foreign suppliers.

Keywords: U.S. exports; imports; extensive and intensive margins; firm heterogeneity; shocks (search for similar items in EconPapers)
JEL-codes: F1 F23 F43 (search for similar items in EconPapers)
Pages: 40 pages
Date: 2012-09
New Economics Papers: this item is included in nep-int
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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https://www2.census.gov/ces/wp/2012/CES-WP-12-17.pdf First version, 2012 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:cen:wpaper:12-17

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