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No pongas todos tus huevos en canastas extranjeras

Author

Listed:
  • Santiago Camara

    (Department of Economics, Northwestern University, United States.)

Abstract

Analizo la lenta expansión de las exportaciones durante y después de crisis financieras utilizando datos a nivel firma para dos países-episodios: Argentina 2001 y Perú 1998. Encuentro que firmas exportadoras incumbentes no expanden sus ventas y que no hay un sustancial aumento de firmas exportadoras. Aún más, presento evidencia que sugiere que la elasticidad de las exportaciones al tipo de cambio real es asimétrica, menor para depreciaciones que para apreciaciones. Construyo y estimo un modelo EDGE para una economía pequeña y abierta donde emprendedores exportadores se encuentran sujetos a fricciones financieras y efectos de hojas de balance para explicar los hechos estilizados encontrados. Aunque estas fricciones reducen la expansión de las exportaciones ante movimientos en el tipo de cambio real, uso ejercicios computacionales para mostrar que no son suficientes para explicar los resultados empíricos.

Suggested Citation

  • Santiago Camara, 2020. "No pongas todos tus huevos en canastas extranjeras," Económica, Instituto de Investigaciones Económicas, Facultad de Ciencias Económicas, Universidad Nacional de La Plata, vol. 66, pages 141-168, January-D.
    • Handle: RePEc:akh:journl:627
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    File URL: https://revistas.unlp.edu.ar/Economica/article/view/9205/10125
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    More about this item

    Keywords

    Macroeconomía; Comercio Internacional; Sudden Stops;
    All these keywords.

    JEL classification:

    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook

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