NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Venting Out: Exports During a Domestic Slump

Miguel Almunia, Pol Antràs, David Lopez-Rodriguez, Eduardo Morales

NBER Working Paper No. 25372
Issued in December 2018

---- Acknowledgments ----

We thank María Jesús González Sanz for research assistance, Carlos Llano for help with the C-Intereg data, and Antoine Berthou and Rafael Dix-Carneiro for their detailed comments. We are also grateful to Olivier Blanchard, Kirill Borusyak, James Fenske, Clément Imbert, Wolfgang Keller, Enrique Moral, Michael Peters, Pedro Portugal, Tim Schmidt-Eisenlohr, Felix Tintelnot, Alberto Urtasun, and seminar audiences at the EEA meetings in Lisbon, the EIIT conference in Washington, D.C., Bank of Spain, Hitotsubashi, Warwick, CUNEF, Georgetown, Austin, IE Business School, University of Michigan, Banco de la República (Bogotá), CEMFI, Vienna, Vanderbilt, the NBER Summer Institute, UIBE (Beijing), UQAM (Montreal), Princeton, Harvard, the ECB, Erasmus University of Rotterdam, and LSE for useful comments. Finally, we particularly thank Oscar Arce for his continuous support throughout this project. All errors are our own. Any views expressed in this paper are only those of the authors and should not be attributed to the Banco de España, the Eurosystem, or the National Bureau of Economic Research.

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