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The granular hypothesis in EU country exports

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  • del Rosal, Ignacio

Abstract

I investigate whether the ‘granular’ behaviour of aggregate outcomes suggested by Gabaix (2011) is present in country exports by product. Using data for 11 EU countries over the 1988–2011 period, the results show that the idiosyncratic shocks to the main products may have significant effects on total exports for the smaller countries.

Suggested Citation

  • del Rosal, Ignacio, 2013. "The granular hypothesis in EU country exports," Economics Letters, Elsevier, vol. 120(3), pages 433-436.
    • Handle: RePEc:eee:ecolet:v:120:y:2013:i:3:p:433-436
    DOI: 10.1016/j.econlet.2013.05.036
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    References listed on IDEAS

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    1. Xavier Gabaix, 2011. "The Granular Origins of Aggregate Fluctuations," Econometrica, Econometric Society, vol. 79(3), pages 733-772, May.
    2. Blank, Sven & Buch, Claudia M. & Neugebauer, Katja, 2009. "Shocks at large banks and banking sector distress: The Banking Granular Residual," Journal of Financial Stability, Elsevier, vol. 5(4), pages 353-373, December.
    3. Julian di Giovanni & Andrei A. Levchenko, 2012. "Country Size, International Trade, and Aggregate Fluctuations in Granular Economies," Journal of Political Economy, University of Chicago Press, vol. 120(6), pages 1083-1132.
    4. Daron Acemoglu & Vasco M. Carvalho & Asuman Ozdaglar & Alireza Tahbaz‐Salehi, 2012. "The Network Origins of Aggregate Fluctuations," Econometrica, Econometric Society, vol. 80(5), pages 1977-2016, September.
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    Cited by:

    1. João Vasco Coelho, 2022. "Non‐linear internationalization processes in Portugal: Evidence across retail, construction and software development industries," Regional Science Policy & Practice, Wiley Blackwell, vol. 14(3), pages 539-559, June.
    2. Nieminen, Mika & Heimonen, Kari & Tohmo, Timo, 2017. "Current accounts and coordination of wage bargaining," BOFIT Discussion Papers 20/2017, Bank of Finland Institute for Emerging Economies (BOFIT).
    3. Omar Blanco & Simone Alfarano, 2016. "Granularity of the business cycle fluctuations: The Spanish case," Working Papers 2016/25, Economics Department, Universitat Jaume I, Castellón (Spain).
    4. Nieminen, Mika & Heimonen, Kari & Tohmo, Timo, 2017. "Current accounts and coordination of wage bargaining," BOFIT Discussion Papers 20/2017, Bank of Finland, Institute for Economies in Transition.
    5. repec:zbw:bofitp:2017_020 is not listed on IDEAS
    6. João Vasco Coelho, 2022. "Recruiting Business Expatriates in Portugal: The Moderating Role of Employee Willingness," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 8(2), pages 206-227, July.
    7. Elguellab Ali & Ezzahid Elhadj, 2023. "The granularity of the manufacturing sector : insights from a developing economy," Economics Bulletin, AccessEcon, vol. 43(3), pages 1254-1264.
    8. Blanco-Arroyo, Omar & Ruiz-Buforn, Alba & Vidal-Tomás, David & Alfarano, Simone, 2018. "On the determination of the granular size of the economy," Economics Letters, Elsevier, vol. 173(C), pages 35-38.
    9. Ignacio Rosal, 2018. "Power laws in EU country exports," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 45(2), pages 311-337, May.
    10. Mika Nieminen & Kari Heimonen & Timo Tohmo, 2019. "Current Accounts and Coordination of Wage Bargaining," Open Economies Review, Springer, vol. 30(2), pages 319-341, April.

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    More about this item

    Keywords

    Aggregate exports; Export concentration; Granular residual;
    All these keywords.

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • C20 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - General

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