Trade Adjustment and Productivity in Large Crises
---- Acknowledgments ----
We thank participants at various seminars for their comments and George Alessandria, Ariel Burstein, Stefania Garetto, Robert Johnson, Benjamin Mandel, Virgiliu Midrigan, and Mark Roberts for very helpful discussions. We also thank Susanto Basu, Ariel Coremberg, Arnaud Costinot, Chang-Tai Hsieh, Tim Kehoe, Sam Kortum, Marc Melitz, Roberto Rigobon, and Ivan Werning for extremely helpful comments. Varun Bansal, Wenxin Du, Vania Stavrakeva, and Jenny Tang provided excellent research assistance. This research was funded in part by the Initiative on Global Markets, the Neubauer Family Foundation, and the Charles E. Merrill Faculty Research Fund at the University of Chicago Booth School of Business. We also gratefully acknowledge the support of the National Science Foundation. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.