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• W3149695005 abstract "This paper presents a dynamic model of risk-averse producers’ decision to invest in physical capital and to export. The model features irreversible investment, no capital markets and fixed and sunk costs to export. Several features of the distribution of investment rates and export participation patterns observed in firm-level data are closely matched in a calibration exercise. Counterfactual experiments show that large adjustments in total sales associated with entry into foreign markets increase the volatility of total sales for exporting firms. JEL-Code: F120, E220." @default.
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• W3149695005 date "2011-01-01" @default.
• W3149695005 modified "2023-09-29" @default.
• W3149695005 title "Exports, Investment and Firm-Level Sales Volatility" @default.
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