Transportation infrastructure is vital for the smooth functioning of international trade. Ports are a crucial gateway … to this system: with more than 80% of trade carried by ships, they shape trade costs, and it is critical that they … unveils three policy-relevant messages: (i) investing in port infrastructure can lead to substantial trade and welfare gains …

Business cycles reflect changes over time in the amount of trade between individuals. In this paper we show that … incorporating explicitly intra-temporal gains from trade between individuals into a macroeconomic model can provide new insight into … "gains from trade" approach can easily explain why changes in perceptions about the future (including "news" about the future …

In this paper, we empirically assess the causal links between trade and individual income risk and study the role that … and the linkage between trade and risk: While, on average, individuals with higher levels of industry- or occupation … evidence of any interaction between risk, industry trade exposure, and occupation-specific human capital …

execution and the risk is a result of price movements during a more gradual trading. The paper shows that the trade-off between …Transaction costs in trading involve both risk and return. The return is associated with the cost of immediate … risk and return in optimal execution should reflect the same risk preferences as in ordinary investment. The paper develops …

Is there a trade-off between fluctuations and growth? The empirical evidence is mixed, with some studies (Kormendi and …

We identify a shock that explains the bulk of fluctuations in equity risk premia, and show that the shock also explains … contract workers. A real model with labor market frictions and fluctuations in risk appetite can explain all of these facts …, both qualitatively and quantitatively. The size of risk-driven fluctuations depends on the relationship between the …

We propose a new measure of financial intermediary constraints based on how the intermediaries manage their tail risk … with increasing option expensiveness, higher risk premia for a wide range of financial assets, deterioration in funding …