benchmark calibration, we estimate that the capital misallocation induced by these barriers reduces World GDP by 7%, compared to …-country inequality: the standard deviation of log capital per employee is 80% higher than it would be in a world without barriers to …

Fragmentation of the global value chain makes it difficult to assess the effects of trade liberalization on the global … pattern of production. Gross bilateral trade ows no longer reveal a country's or a sector's value added contribution. Yet, it … is value added that matters for employment and welfare. We derive a structural equation for value added trade ows and …

, revealing that deepening existing agreements (the intensive margin of regional integration) could boost world trade by 5 percent …This paper explores the economic impacts of preferential trade agreements, conditional on their level of ambition. We … cluster 278 agreements, encompassing 910 provisions over 18 policy areas and estimate the trade elasticity for the different …

We propose a simple and flexible econometric approach to quantify ex-ante the "deep" impact of trade liberalization and … measure of the change in bilateral trade costs in response to a hypothetical policy change. To demonstrate the effectiveness … of our methods, we focus on the integration between the countries from the Central European Free Trade Agreement (CEFTA …

-adjustment effects to trade-policy changes. Instead, we point to a series of advantages of using consecutive-year data recognizing …-biased effect estimates due to the distribution of trade-policy events during an event window as well as due to anticipation (pre …

equilibrium effects of GATT/WTO membership on trade and welfare. Using an extensive database covering manufacturing trade for 186 … countries over the period 1980-2016, we find that the average impact of GATT/WTO membership on trade among member counties is … for non-member countries. We show that countries not experiencing positive trade effects from joining GATT/WTO can still …

affects manufacturing trade over the period 1986-2006 and show that, on average, the effect of distance has fallen whereas the … effects of proximity and regional trade agreements have increased over time. We also document substantial cross … distribution have seen the steepest fall in distance coefficients. At the same time, distance as a trade friction has not lost its …

whether and how much does GATT/WTO membership affect international trade. We are the first to capture the non …-discriminatory nature of GATT/WTO commitments by measuring the effects of GATT/WTO membership on international trade relative to domestic … results imply that, on average, joining GATT and/or WTO has increased trade between members by 171% and trade between member …

Using a new, global data base covering the years 1950 to 2015, we study the impact of sanctions on international trade … but also widely heterogeneous across sanctioning countries. Moreover, they depend on the direction of trade. We also …

significantly deviates from the evolution of world GDP. Finally, using exogenous variation in trade-related distances to world …. Empirically, we collect a large dataset on aggregate and bilateral trade flows as well as output for 51 countries. We find that … market potential exhibits an upward trend across all regions of the world from the early 1930s and that this trend …