On September 28, Carolina Villegas from ESADE Business School (Barcelona), will present the study “Made in Spain: Import Switching and Productivity”.
Do firms respond to local customer and supplier cost shocks by reducing their share of imported intermediate goods? We compute changes in relative unit labor costs vis-a-vis main trading partners in upstream and downstream sectors post-Spanish internal devaluation and combine with the quasi-universe of Spanish manufacturing firms. Firms’ import share is unresponsive to supplier competitive gains however, there is import switching by firms selling to downstream sectors exhibiting international competitive losses and producing highly substitutable goods. Estimates from a structural model imply import switching explains 40% of the cumulative productivity losses of the Spanish manufacturing sector during this period.
The research seminars will take place from 21 September to 14 December, on Wednesdays, from 13.00h to 14.00h at the Novo Banco Amphitheatre (Edifício Quelhas, 4th floor).
The events will be attended by lecturers from ISEG and other national and international schools, where topics related to Economics, Management, Finance, Social Sciences and Quantitative Methods will be covered.