variety of empirical gravity models to estimate the currency union effect on trade and exports, using recent data which …

data on bilateral trade in manufactures among 92 countries and to firm-level export data for a much narrower sample shows …

This paper characterizes the dynamic empirical properties of country export capabilities in order to inform modelling … has noted a tendency for countries to concentrate exports in a few sectors. We show that this concentration arises from a … heavy-tailed distribution of industry export capabilities that is approximately log normal and whose shape is stable across …

-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than anticipated, suggesting a …

I develop a version of the New Keynesian model with insider-outsider labor markets and hysteresis that can account for … fails to deliver, with the gap between the two increasing in the degree of hysteresis. Two simple targetiing rules are shown …

We study the instability of hyper-specialization of exports. We have two main findings. (1) Specializations are … surprisingly unstable: Export ranks are not persistent, and new top products and destinations replace old ones. Measurement error … of this instability: Only 20% of the variation in export growth can be explained by variation in comparative advantage …