, there is positive trade in any steady state or cycle. With overlapping generations, in contrast, we construct examples with … steady state or cycle with factor price equalization has no trade after a finite number of periods. …

-factor Heckscher-Ohlin trade model and a two-sector growth model - with infinitely lived consumers where international borrowing and …

We introduce an internal geography to the canonical model of international trade driven by comparative advantages to … near international gates specialize in export-oriented sectors while more distant locations do not trade with the rest of … countries that opened up to trade. We find regional specialization patterns consistent with the model in industry-level data …

, intermediate goods, and multiple factors of production--affect the magnitude of the gains from trade liberalization. We conclude by …

We argue that the welfare gains from trade in new models with micro-level margins exceed those in frameworks without … these margins. Theoretically, we show that for fixed trade elasticity, different models predict identical trade flows, but … different patterns of micro-level price variation. Thus, given data on trade flows and micro-level prices, different models have …

.9%). This reflects the fact that good-specific sources of price dispersion, such as trade costs and good-specific markups, tend … with distance elasticities consistent with the existing trade gravity literature which links trade volumes (rather than …

...ed by the atmospheric pollution literature. We find that the effect of environmental regulation on the pattern of trade is …

acquired only through importation. Given unrestricted trade in specie, market arbitrage should have eliminated chronic scarcity …

This paper investigates the welfare gains from European trade integration, and the role of comparative advantage in … the 2000s to a counterfactual scenario in which East European countries are closed to trade. For West European countries …, the mean welfare gain from trade integration with Eastern Europe is 0.16%, rang- ing from zero for Portugal to 0.4% for …