Prevailing trade theory is a neglected stepchild of economics. Micro rejects the sole reason for trade’s occurrence. It declares zero profit in equilibrium. Monetary theory and macroeconomics dismiss concerns of trade financing. They assert that money has nothing to do with traded output, but...

In a closed economy general equilibrium model, Hopenhayn and Rogerson (1993) find large welfare gains to removing firing restrictions. We explore the extent to which international trade alters this result. When economies trade, labor market policies in one country spill over to other countries...

La presente obra se centra en uno de los problemas fundamentales de nuestra época: el desenvolvimiento económico de la convergencia y el crecimiento en las regiones considerando a las instituciones y el comercio internacional. A lo largo del libro el autor discute los modelos teóricos y...