the forces that shape the strength of the terms of trade effects the degree of openness to international trade and the … trade leads to a stable world income distribution. This is because specialization and trade introduce de facto diminishing … returns: countries that accumulate capital faster than average experience declining export prices, depressing the rate of …

.S. employment growth. We find that the increase in U.S. imports from China, which accelerated after 2000, was a major force behind …

of the variation in industry imports from China and changes in federal spending) and two supply-side ones (TFP shocks and …

unions to estimate the effect of currency unions on trade using (then-) conventional gravity models. In this paper, we use a … variety of empirical gravity models to estimate the currency union effect on trade and exports, using recent data which … a smaller trade effect than other currency unions; it has a mildly stimulating effect at best. Third and most …

A gravity model is used to assess the separate effects of exchange rate volatility and currency unions on international … trade. The panel data set used includes bilateral observations for five years spanning 1970 through 1990 for 186 countries … same currency. I find a large positive effect of a currency union on international trade, and a small negative effect of …

This paper shows that proximity to major international financial centers seems to reduce business cycle volatility. In … experience more volatile growth rates in both output and consumption, even after accounting for political institutions, trade …

dampening effect on trade volatility …I examine the hypothesis that membership in the World Trade Organization (WTO) and its predecessor the General … Agreement on Tariffs and Trade (GATT) has increased the stability and predictability of trade flows. I use a large data set …

This paper addresses the issue of whether regimes of fixed exchange rates are a mechanism for shifting volatility inter … devaluations reveals little evidence of significant increases in volatility following these events …