One of the most striking aspects of the recent recession is the collapse in international trade. This paper uses disaggregated quarterly and monthly data on U.S. imports and exports to shed light on the anatomy of this collapse. We find that the recent reduction in trade relative to overall...

We study the response of factor allocation and the skill premium to trade liberalizations in a model that combines exogenous determinants of comparative advantage--that result from sectoral productivity and factor endowment differences across countries--with endogenous determinants of...

How do changes in the economic environment such as reductions in international trade costs or reductions in firms innovation costs impact aggregate productivity? More generally, how do changes in economic policies that affect market size, market structure, and the costs and benefits to firms of...