We update (Rose and Spiegel, forthcoming) and (Rose and Spiegel, 2010) and search for simple quantitative models of macroeconomic and financial indicators of the "Great Recession" of 2008-09. We use a cross-country approach and examine a number of potential causes that have been found to be...

The consequences of regional trade agreements (RTAs) on countries׳ welfare are disputed. In this paper, we assess these effects using stock returns from a recent data set that spans over 200 RTA announcements, 80 economies, and 20 years. We measure the effects of news concerning RTAs on the...

This paper studies a model of buyer investment and its effect on the variety and vertical structure of international trade. A distinction is made between two types of buyer investment: "Flexible" and "specific", which differ in the ability of a buyer to match with a seller. The interaction of...