Decomposing Firm-level Sales Variation
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We measure the contribution of firm-specific effects to overall sales variation within a destination and find it remarkably low. Our empirical decomposition is structurally motivated by a heterogeneity model of exporting involving destination-specific, firm-specific, and firm-destination-specific latent effects with incidental truncation. We use a highly detailed dataset with exports by products and destinations for all Danish manufacturing fi…rms. We fi…nd the contribution of firm-specific heterogeneity to within-destination sales variation varies greatly across HS6 products, and that for the median product it drives 31% of the sales variation. When we remove first-time exports from our sample, the median value increases to 40%, implying that firm-destination-specific effects are most important the first year. We conclude that while firm-specific productivity can account for some of the variation, the majority is explained by firm-destination-specific heterogeneity sources such as firm-destination-specific demand.
Originalsprog | Engelsk |
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Udgiver | Economic Policy Research Unit. Department of Economics, University of Copenhagen |
Antal sider | 22 |
Status | Udgivet - 2009 |
Bibliografisk note
JEL classification: F12, C24
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