In this paper, we study the role of the transportation sector in world trade. We build a spatial model that centers on the interaction of the market for (oceanic) transportation services and the market for world trade in goods. The model delivers equilibrium trade flows, as well as equilibrium...

While employed, workers learn their comparative advantage and eventually choose occupations that best match their abilities. This learning process is consistent with a number of key facts about occupational mobility, such as the offsetting worker flows across occupations, the non-random patterns...

In this paper we provide a simple and intuitive story for supply chain disruptions driven by the rigidities in the transportation sector. Focusing on maritime shipping, we argue that the frequent macroeconomic shocks that shape demand for transportation, meet a highly inelastic supply curve for...