View metadata
| dc.title | Reallocation and Productivity during Commodity Cycles |
| dc.contributor.author | Heresi, Rodrigo |
| dc.contributor.orgunit | Department of Research and Chief Economist |
| dc.coverage | Chile |
| dc.date.available | 2021-04-14T00:00:00 |
| dc.date.issue | 2021-04-14T00:00:00 |
| dc.description.abstract | I study the firm-level dynamic response of a commodity-exporting economy to global cycles in commodity prices. To do so, I develop a heterogeneous-firms model that endogenizes declines in aggregate productivity through reallocation towards less productive firms. Within a given sector, commodity booms reallocate market share away from exporters because of currency appreciation and away from capital-intensive firms because of the increase in capital cost. I provide empirical evidence for these channels using microdata for Chile, the worlds largest copper producer. When fed with the commodity super-cycle of 2003-2012, the calibrated model generates about 50% of the observed productivity decline. |
| dc.format.extent | 59 |
| dc.identifier.doi | http://dx.doi.org/10.18235/0003203 |
| dc.identifier.url | https://publications.iadb.org/publications/english/document/Reallocation-and-Productivity-during-Commodity-Cycles.pdf |
| dc.language.iso | en |
| dc.publisher | Inter-American Development Bank |
| dc.subject | Productivity |
| dc.subject | Labor Productivity |
| dc.subject | Industrial Productivity |
| dc.subject | Commodity Price |
| dc.subject | Exchange Rate |
| dc.subject | Manufacturing Industry |
| dc.subject.jelcode | F41 - Open Economy Macroeconomics |
| dc.subject.jelcode | D24 - Production • Cost • Capital • Capital, Total Factor, and Multifactor Productivity • Capacity |
| dc.subject.jelcode | Q33 - Resource Booms |
| dc.subject.keywords | Productivity;Resource booms;Open economy macroeconomics |
| dc.type | Working Papers |
| idb.identifier.pubnumber | IDB-WP-01164 |
| idb.operation | RG-K1098 |