Vannoorenberghe, Gonzague; Wang, Zheng; Yu, Zhihong - CESifo - 2014
countries have more volatile exports, while the opposite holds among large exporters. This result, which stands in marked … theoretical explanation for these observations rests on the presence of fixed costs of exports per destination and short …-run demand shocks. In this setup, the volatility of a firm’s exports depends not only on the diversification of its destination …