The basic gains-from-trade theorem makes a stark comparison between completely free trade and complete autarky. This … paper is motivated by recent evidence that trade has greatly expanded on the extensive margin (aka fragmentation, offshoring …) by adding newly traded goods and services and that much of this new trade is in intermediates. I provide an extension of …

A number of stylized facts have been documented about the extensive margin of trade - which firms export, and how many … products they send to how many destinations. We argue that the sparse nature of trade data is crucial to understanding these … classifications - e.g., countries and product codes. We propose a statistical model to account for the sparsity of trade data. We …

macroeconomics of trade adjustment in the context of the classic `transfer problem,' using a model where the set of exportables … interpreting the size of real depreciation associated with trade rebalancing as an index of macroeconomic distress. …

This paper tests whether trade in new goods is partially responsible for the pro-trade effects of the euro and provides … countries at the most disaggregated level of trade data that is publicly available. Using predictions from a heterogeneous …-firms trade model in a multi-country environment to structure our empirical model, we find that the euro had a positive impact on …

How successful is the theory of the firm in explaining intra-firm trade? To answer this question we exploit a unique …