Neue Veröffentlichung in Macroeconomic Dynamics


Laura Werner hat mit ihrer ehemaligen Gießener Kollegin Jolita Adamonis den Artikel „A New Measure to quantify Hysteresis Losses: the case of Italian Wine Exports to the United States” im Journal Macroeconomic Dynamics veröffentlicht.


This paper introduces a new measure to capture dynamic losses for exporting firms on markets that exhibit hysteresis on the supply side. Our indicator aims to quantify dynamic losses caused by sunk adjustment costs in case of exchange rate fluctuations. While the standard procedure in welfare analysis is to compare two equilibria, we focus on welfare effects that take place during dynamics.

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Cornelia Trump | 13.08.2021