Predicted probability of exit by tariff changes and ownership control
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Note(s): All variables are measured as deviations from two-digit industry mean values. Predicted exit rate is evaluated at the common two-digit industry mean values of trade cost (Figure 13) or real-exchange-rate changes (Figure 14), and at group-specific two-digit industry mean values of productivity, employment, and age. The plots cover the entire range of actual changes in tariffs and real exchange rates.
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