have placed an emphasis on the importance of trade with New World colonies, and the expanded supply of raw cotton it … provided. We test both hypotheses using calibrated general equilibrium models of the British economy and the rest of the world … trade with the rest of the world, not the American colonies, that allowed Britain to export its rapidly expanding textile …

This paper calculates international income transfers which implement a Pareto optimal trade equilibrium in a world …

world agricultural prices. Reduced agricultural price distortions among major supplying nations are predicted to increase … food prices paid by food importers must be bad for them, while reducing world coffee and cotton prices appears bad for …