area sovereign debt crises. We find that macro and default-specific world factors are a primary source of default …

all variables proposed by theory, despite a broad set of fixed effects (FE). We find that both REERs are important and … multilateral resistances. Untangling normalization helps to get a better view of what is still unexplained by theory. …

, using a recent theory on trade in tasks. A production function is estimated for the Netherlands for the period 1972-2001. It …

Transaction costs are a major reason why international trade flows are much smaller than traditional trade theory would …