market size, or government spending. We introduce trade costs and endogenous varieties in a two-country general … and differentiation costs also have higher GDP, but supply a larger array of goods at improved terms of trade. The sign of … the international welfare spillovers depends on terms of trade, but also on consumers’ taste for variety. Higher domestic …

intranational data to evaluate the linkages between trade in goods, trade in financial assets, specialization and business cycles …) Simultaneity is important, as both trade and financial openness have a direct and an indirect effect on cycles of synchronization … sizeable effect on business cycles, above and beyond their reflection of intra-industry trade and of openness to goods and …

This paper provides novel evidence on the determinants of the synchronization in business cycles. I find trade has …

commodity trade and capital mobility. We show that consumption smoothing, which comes with the opening of the capital market …

appreciation of the Norwegian Krone in the early 2000s on Norwegian manufacturing firms which differ substantially in their trade …

of trade impacting on rich countries' business cycles is thus mitigated, and its direct impact lessened. The structure of …

, inter alia, the intensity or trade with other potential members of the currency union, and the extent to which domestic … business cycles are correlated with those of the other countries. But international trade patterns and international business … close trade links tend to have more tightly correlated business cycles. It follows that countries are more likely to satisfy …

understanding of the implications of the exchange rate regime for trade and capital flows is still limited. We argue that two key … results. First, the level of trade is not necessarily higher under a fixed exchange rate regime. Second, the level of net …

The gravity model of trade is utilized to assess the impact of disintegration on trade. The analysis is based on three … strong home bias around the time of disintegration, with intra-union trade exceeding normal trade approximately 43 times in … fall in trade intensity. Nevertheless, there is a considerable hysteresis in economic relations, with trade flows among the …