Following Chairman Ben Bernanke’s comments before Congress that the FOMC may ‘take a step down in the pace of asset purchases if economic improvement appears to be sustained’, US 10-year interest rates picked up sharply and gross capital flows to emerging market economies (EMEs) reversed....

This volume of contributions from some of the world's best-known international trade economists explores and analyzes the various aspects of commercial policy in a way that standard texts in international economics do not.