The establishment of the currently negotiated Free Trade Agreement (FTA) between EU and Ukraine is the next significant … developing countries face some costs associated with trade liberalization, this paper contributes to the literature by analyzing … trade liberalization, as the results vary significantly across the scenarios. In general, we find that tariff elimination …

information contributed to the breakdown in trade of asset-backed securities during the recent financial crisis, and to evaluate …

then used to estimate the effect of reducing tariffs on welfare, trade, and export participation. The authors find sizeable … gains to moving to free trade. Contrary to the view that the gains to lowering tariffs are larger in models with export … to trade reform in models with fixed costs and overstate the welfare gains in models without fixed costs. With fixed …

A large body of empirical research finds that a pair of regions within a country tends to trade 10 to 20 times as much … as an otherwise identical pair of regions across countries. In the context of the standard trade models, the large … Ricardian model of intra-national and international trade, and shows how endogenous vertical specialization magnifies the …

This paper supersedes Working Paper No. 12-8.> We study trade between an informed seller and an uninformed buyer who … increase even absent changes in fundamentals (a .run-up.), but may also make trade impossible (a .freeze.) and hamper …

The authors study trade between a buyer and a seller when both may have existing inventories of assets similar to those … being traded. They analyze how these inventories affect trade, information dissemination, and price formation. The authors … show that when the buyer's and seller's initial leverage is moderate, inventories increase price and trade volume, but when …

The authors examine the source of the large fall and rebound in U.S. trade in the recent recession. While trade fell … downturn, these trade fluctuations were in line with those in previous business cycle fluctuations. The authors argue that the … high volatility of trade is attributed to more severe inventory management considerations of firms involved in …

trade and FDI are found to have significant impact on the upsurge of labour productivity growth in BRICS, where the …

This paper is superseded by Working Paper No. 13-14.> We study trade between a buyer and a seller who have existing … inventories of assets similar to those being traded. We analyze how these inventories affect trade, information dissemination, and … prices. We show that when traders’ initial leverages are moderate, inventories increase price and trade volume (a market “run …

A large empirical literature finds that there is too little international trade, and too much intra-national trade to … be rationalized by observed international trade costs such as tariffs and transport costs. The literature uses frameworks … production helps explain the home bias in trade. The author shows that multi-stage production magnifies the effects of trade …