Outsourcing and volatility:
While outsourcing of production from the U.S. to Mexico has been hailed in Mexico as a valuable engine of growth, recently there have been misgivings regarding its fickleness and volatility. This paper is among the first in the trade literature to study the second moment properties of outsourcing. W...
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| Main Authors: | , , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cambridge, Mass.
National Bureau of Economic Research
2007
|
| Series: | Working paper series / National Bureau of Economic Research
13144 |
| Online Access: | Volltext |
| Summary: | While outsourcing of production from the U.S. to Mexico has been hailed in Mexico as a valuable engine of growth, recently there have been misgivings regarding its fickleness and volatility. This paper is among the first in the trade literature to study the second moment properties of outsourcing. We begin by documenting a new stylized fact: the maquiladora outsourcing industries in Mexico experience fluctuations in value added that are roughly twice as volatile as the corresponding industries in the U.S. A difference-in-difference method is extended to second moments to verify the statistical significance of this finding. We then develop a stochastic model of outsourcing with heterogeneous firms that can explain this volatility. The model employs two novel mechanisms: an extensive margin in outsourcing which responds endogenously to transmit shocks internationally, and translog preferences which modulate firm entry. |
| Item Description: | Literaturverz. S. 27 - 28 |
| Physical Description: | 44, 1 S. graph. Darst. 22 cm |
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| 520 | 8 | |a While outsourcing of production from the U.S. to Mexico has been hailed in Mexico as a valuable engine of growth, recently there have been misgivings regarding its fickleness and volatility. This paper is among the first in the trade literature to study the second moment properties of outsourcing. We begin by documenting a new stylized fact: the maquiladora outsourcing industries in Mexico experience fluctuations in value added that are roughly twice as volatile as the corresponding industries in the U.S. A difference-in-difference method is extended to second moments to verify the statistical significance of this finding. We then develop a stochastic model of outsourcing with heterogeneous firms that can explain this volatility. The model employs two novel mechanisms: an extensive margin in outsourcing which responds endogenously to transmit shocks internationally, and translog preferences which modulate firm entry. | |
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| spelling | Bergin, Paul R. Verfasser (DE-588)128617411 aut Outsourcing and volatility Paul R. Bergin ; Robert C. Feenstra ; Gordon H. Hanson Cambridge, Mass. National Bureau of Economic Research 2007 44, 1 S. graph. Darst. 22 cm txt rdacontent n rdamedia nc rdacarrier Working paper series / National Bureau of Economic Research 13144 Literaturverz. S. 27 - 28 While outsourcing of production from the U.S. to Mexico has been hailed in Mexico as a valuable engine of growth, recently there have been misgivings regarding its fickleness and volatility. This paper is among the first in the trade literature to study the second moment properties of outsourcing. We begin by documenting a new stylized fact: the maquiladora outsourcing industries in Mexico experience fluctuations in value added that are roughly twice as volatile as the corresponding industries in the U.S. A difference-in-difference method is extended to second moments to verify the statistical significance of this finding. We then develop a stochastic model of outsourcing with heterogeneous firms that can explain this volatility. The model employs two novel mechanisms: an extensive margin in outsourcing which responds endogenously to transmit shocks internationally, and translog preferences which modulate firm entry. Feenstra, Robert C. 1956- Verfasser (DE-588)124078958 aut Hanson, Gordon H. 1964- Verfasser (DE-588)12873325X aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.> NBER working paper series 13144 (DE-604)BV002801238 13144 http://papers.nber.org/papers/w13144.pdf kostenfrei Volltext |
| spellingShingle | Bergin, Paul R. Feenstra, Robert C. 1956- Hanson, Gordon H. 1964- Outsourcing and volatility |
| title | Outsourcing and volatility |
| title_auth | Outsourcing and volatility |
| title_exact_search | Outsourcing and volatility |
| title_exact_search_txtP | Outsourcing and volatility |
| title_full | Outsourcing and volatility Paul R. Bergin ; Robert C. Feenstra ; Gordon H. Hanson |
| title_fullStr | Outsourcing and volatility Paul R. Bergin ; Robert C. Feenstra ; Gordon H. Hanson |
| title_full_unstemmed | Outsourcing and volatility Paul R. Bergin ; Robert C. Feenstra ; Gordon H. Hanson |
| title_short | Outsourcing and volatility |
| title_sort | outsourcing and volatility |
| url | http://papers.nber.org/papers/w13144.pdf |
| volume_link | (DE-604)BV002801238 |
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