Trade and Exchange Rate Effects: Evidence from Firm-Level Data

Nazire Nergiz Dincer, Anirudh Shingal and Ayça Tekin-Koru

No 1403, Working Papers from Economic Research Forum

Abstract: We estimate an augmented gravity model using a firm-level database on Turkish firms to revisit the trade-exchange rate relationship over 2003-2015 at the intensive export margin. Besides several additional layers of analysis made possible by unique attributes of our firmlevel database, we also examine exchange rate effects separately for firms engaged in manufacturing and services activities, which is a significant departure from existing literature. Our findings suggest considerable heterogeneity in the exchange rate effects on exports at the intensive margin. On the whole, for existing trade flows, more GVC-intensive production is found to attenuate the effect of an exchange change, especially for the servicesintensive firms in the sample.

Pages: 27
Date: 2020-10-20, Revised 2020-10-20
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Published by The Economic Research Forum (ERF)

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