productivity distribution along the entire support. While the former underpredicts the thickness of the right tail, the latter does …

We study how financial frictions affect firm-level heterogeneity and trade. We build a model where productivity …

their productivity draws at the entry stage and explore the implications in closed and open economy. By allowing firms to … productivity with a shape parameter that depends on industry-level characteristics. A novel result is that export opportunities, by …

emerging and advanced economies. We assess the impact of appreciations, productivity booms and capital flow surges using a … propensity-score matching approach to address causality issues. We show that appreciations associated with higher productivity …