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An empirical model of sunk costs and the decision to export (الإنجليزية)

Exports respond unpredictably to a change in real exchange rates, suggests evidence from the 1980s. Recent theoretical work explains this as a consequence of the sunk costs associated with breaking into foreign markets. Sunk costs include the cost of packaging, upgrading product quality, establishing marketing channels, and accumulating information on demand sources. The authors use micro panel data to estimate a dynamic discrete-choice model...
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نسخة رسمية من الوثيقة (قد تضم توقيعات، الخ)


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