Many countries have experienced banking and currency crises in recent years. Although these crises appear to share many common causes and consequences, they have generally been analysed by different sets of economists. This paper develops a common framework, applies this framework to analysing...

Current trade theory argues that countries pursue bilateral trade agreements to escape from a terms-of-trade driven prisoners' dilemma. This paper offers an empirical test of the theory. Using simulation results from a quantitative trade model of North America I show that the non-cooperative and...

Despite their complexity, existing policy evaluation methods ignore many features of the real world that are pertinent for welfare analysis of trade policy. The main limitation of these technics is that they are static, which means they ignore important dynamic consequences of trade...