Micro-level data have had a profound influence on research in international trade over the last ten years. In many regards, this research agenda has been very successful. New stylized facts have been uncovered and new trade models have been developed to explain these facts. In this paper we...

This paper explores how multinationals affect underdeveloped regions through the generation of linkages. It is shown that the linkage effect of multinationals on the host country is more likely to be favorable when the good that multinationals produce uses intermediate goods intensively, when...

We study first- and second-price auctions with resale in a model with independent private values. With asymmetric bidders, the resulting ineffi ciencies create a motive for post-auction trade which, in our model, takes place via monopoly pricing—the winner makes a take-it-or-leave-it offer to...