This paper embeds a principal-agent firm in an otherwise standard trade model a la Melitz (2003) to investigate the … less productive firms use a lowered- powered one. International trade within an industry enhances market competition … international trade on firms that differ in their exporting status and pay structure result in more prevalence of high …

Firms face competing needs to expand product variety and reduce production costs. Trade policy affects firm investments … recapture these lost markups. I provide a theory detailing this conflicting impact of trade policy and address welfare gains … from trade. Accounting for firm heterogeneity, I show support for the theoretical predictions with firm-level innovation …

partly endogenous, for example it has been spurred by trade with China. Thus, trade does matter for changes in the labour …

minimum wage and trade unions) continues to offer the best explanation for the observed patterns of change. …

analysis focuses on the more mundane (but quantifiable) economic issues, especially trade. The costs and benefits of the UK … leaving the EU are complex. Losses due to trade alone could be very substantial. Even under very optimistic assumptions, the … sum of the static and dynamic trade losses would be almost 2.2% of GDP. More pessimistic calculations would lead to a long …

In a general equilibrium product-cycle model, lower trade barriers in-crease Southern purchasing power, which lifts … from a baseline OECD growth rate of 2% we find that trade integration with low-wage countries in the decade around China …

Can temporary protection from trade with advanced economies foster the development of 'infant industries' in developing …

frictions, and foreign trade. This framework emphasizes firm heterogeneity and search and matching frictions in labor markets …. It implies that the opening of trade may raise inequality and unemployment, but always raises welfare. Unilateral … country's trade partner. Unemployment benefits can alleviate the distortions in a country's labor market in some cases but not …