Gopinath, Gita; Itskhoki, Oleg; Neiman, Brent - C.E.P.R. Discussion Papers - 2012
We document the behavior of trade prices during the Great Trade Collapse of 2008-2009 using transaction-level data from the U.S. Bureau of Labor Statistics. First, we find that differentiated manufactures exhibited marked stability in their trade prices during the large decline in their trade...
