This paper investigates the impact of long-run terms-of-trade shocks. Analytically, we show that, if capital goods are … during 1965-89. Favorable terms-of-trade shocks increase investment and (especially government) consumption, but reduce …, but Dutch Disease effects are strikingly absent. Investment, consumption, and nontradable output respond more to a terms-of-trade …

exchange rate, foreign prices, and terms of trade have long-run effects on inflation, while the money supply and interest rate …

both advanced and developing economies; and for the influence of shifts in the terms of trade …

prioritize human capital accumulation and reduce barriers to trade. Other policy areas include improving quality of institutions … and developing the financial sector. For commodity exporters reducing barriers to trade is the most important driver of …

Over the last two decades, world trade and production have become increasingly organized around global value chains … evolution over time in order to contribute to this topic. We find that GVC-related trade, rather than conventional trade, has a … the standard gravity literature for GVC trade; highlighting the key role of institutional features such as contract …

general equilibrium (CGE) trade model calibrated to 165 countries. The first scenario estimates effects from potential U … to capture dynamic effects, such as those stemming from trade policy uncertainty. More generally, our results both …

disentangle effects from various channels that interact at the same time, such as flows of tourists, trade of goods, and changes …

gains from trade. Those gains are realized through exchange rate adjustments that cause a temporary reallocation of … containment policies that aim at optimizing global welfare further enhances the ability of countries to exploit trade …

. Conflict is also associated with dramatic declines in official trade, with exports (imports) estimated to be 58 (34) percent …