This paper empirically investigates the effect of the EU-South Korea free trade agreement (FTA) on manufacturing trade … flows. By applying a state-of-the-art structural gravity model with intranational (i.e., domestic) trade and using … disaggregated data, we quantify both the trade impact and the observed heterogeneity in the FTA estimates. In line with literature …

addition to its well-established relevance for the level of trade. A simple model of trade with endogenous markups shows that … demand shocks have a larger impact on trade between more distant countries. We test this implication in two steps, relying on …, linguistic, and internet). We first show that during the Great Trade Collapse of 2007-09 international transactions fell more …

This paper analyses the rapid trade integration of the Central and Eastern European countries (CEEC's) with the euro … estimated for a large sample of bilateral trade flows across 61 countries since 1980. We show that a careful examination of the … the transition process. We therefore propose a two-stage "out-of-sample" approach. The results suggest that trade …

We analyze the role of economic and security considerations in bilateral trade agreements. We use the pre-World War I … period to test whether trade agreements are governed by pecuniary factors, such as distance and other frictions measured by … the probability of trade agreements by as much as 20 percentage points. Our estimates imply that were the U.S. to alienate …

whether the historically well-documented relationship between growth, real exchange rates and trade protectionism has broken … measures. We find that the specter of protectionism has not been banished: Countries continue to pursue more trade … differences in the recourse to trade protectionism across countries: trade policies of G20 advanced economies respond more …

Due to the emergence of global production networks, trade statistics have became less accurate in describing the …) table, the interdependence of emerging Asian countries, the United States, the EU15, and Japan via trade and production … linkages. According to the results, we do not find evidence of the decoupling of emerging Asia from the rest of the world. On …

prices with respect to the euro area: productivity growth and increased trade openness. Productivity growth can have a …

This paper analyses the relationship between openness to trade and wages at the industry level (15 manufacturing … intra- and inter-industry trade as well as between trade from western and eastern Europe and we try to assess the relative … importance of foreign wages versus domestic productivity developments in an open environment. We find that trade is not an …

developments, such as the sharp contraction in world trade that took place in the wake of the financial crisis. While the fall in … investigate the factors behind the dynamics of global trade flows, with a particular view on the issue of global trade imbalances … internationalisation of production and the high import content of exports. The model can be used to gauge the effect on trade flows of …

Traditional carry trade strategies are based on differences in short-term interest rates, neglecting any other … information embedded in yield curves. We derive return distributions of carry trade portfolios among G10 currencies, where the … strategy based on the relative curvature factor, the curvy trade, yields higher Sharpe ratios and a smaller return skewness …