Commodity Price Shocks, Factor Utilization, and Productivity Dynamics

Gustavo Gonzalez
I investigate the importance of commodity price shocks on aggregate productivity dynamics through the variable utilization of primary factors. I exploit sectoral variation in product tradability and cost exposure to the copper industry to characterize the within-plant responses of manufacturing Chilean firms to copper price shocks. I find that, when copper prices increase, establishments selling non-tradables display higher RTFP than similar establishments selling tradables. At the same time, plants more cost-exposed to the copper industry...
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