economic crises during the 1990s. We find that the severity of crisis has had a positive impact on the subsequent pace of …

The distributional consequences of the recent economic crisis are still broadly unknown. While it is possible to …

incentives to take risk and raise failure probabilities. The competition-stability trade-off is characterized and the …I review the state of the art of the academic theoretical and empirical literature on the potential trade-off between …

automatic stabilizer in the current economic crisis. We find that automatic stabilizers absorb 38 per cent of a proportional …

international trade, self-enforcing - or stable - IEAs may comprise up to 60% of all countries (Eichner and Pethig 2013). But these … coalitions are Stackelberg leaders and set tariffs in addition to their cap-and-trade schemes. Surprisingly, these smaller IEAs …

We study the effect of international trade and freeness of trade (openness) on interregional inequality within … on weighted trade shares and trade costs. In addition to the standard trade-to-GDP ratio, we derive and propose an … aggregate freeness-of-trade measure based on phiness of trade. Both measures are instrumented by proxies constructed from …

We develop a heterogeneous-firms model with trade in goods, labor mobility and credit constraints due to moral hazard … trade liberalization. While the former leads to more dispersion of economic activity across space, the latter tends to drive …