Globalisation is associated with long periods of sustained economic growth and credit expansion, whereas major … recessions tend to lead to falling trade and protectionism. The sensitivity of trade to global economic conditions is not simply … driven by policy: rather, in a model of costly search, firms who are engaged in a searching process are very sensitive to …

markets. This framework rests on a demand model that captures the trade-off between distance and pecuniary cost across …

Trade, foreign direct investment and the existence of multinational enterprises are often analyzed in separate model … economic exchange into one general equilibrium model. This model explains various types of trade (interindustry, intraindustry … (vertically as well as horizontally integrated ones). With the market structure being endogeneous, different production, trade and …