This paper develops a model of trade and growth for a developing economy based on the Austrian theory of capital. Two types of economies differ in terms of time preference rates. Each economy produces two capital goods, both of which provide services to consumers through their life periods. A...

We show that the countries of the former Austro-Hungarian monarchy trade significantly more with one another in the aftermath of the collapse of the Iron Curtain than predicted by a standard gravity model. This trade surplus declines linearly and monotonically over time. We argue that these...

With the change of administration in the United States, trade negotiations came to a near standstill in 2009. There was little to no discernable progress in the Doha round of World Trade Organization (WTO) negotiations, and despite Russia's efforts to the contrary, no new members joined the WTO....

I propose a framework that takes a set of conceivable outcomes as the primitive and a prediction is defined by identifying a subset on the set of conceivable outcomes. This notion of predictability serves as an organizing principle for characterizing pattern of trade predictions in single...