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What Do Trade Negotiators Negotiate About? Empirical Evidence from the World Trade Organization

Bagwell, Kyle - 2007

that offer an answer to this question: the terms-of-trade theory and the commitment theory. The terms-of-trade theory holds …' Dilemma. The commitment theory holds that trade agreements are useful to governments as a means of helping them make … World Trade Organization. We find broad support for the terms-of-trade theory in the data. We claim more tentatively to find …

Persistent link: https://www.econbiz.de/10012778165

Real Exchange Rate and International Reserves in the Era of Growing Financial and Trade Integration

Aizenman, Joshua - 2006

This paper evaluates the impact of international reserves, terms of trade shocks and capital flows on the real exchange rate (REER). We observe that international reserves cushions the impact of TOT shocks on the REER, and that this effect is important for developing but not for industrial...

Persistent link: https://www.econbiz.de/10012779770

Globalization and the Great Divergence : Terms of Trade Booms and Volatility in the Poor Periphery 1782-1913

Williamson, Jeffrey G. - 2008

W. Arthur Lewis argued that a new international economic order emerged between 1870 and 1913, and that global terms of trade forces produced rising primary product specialization and de-industrialization in the poor periphery. More recently, modern economists argue that volatility reduces growth...

Persistent link: https://www.econbiz.de/10012772451

Trade Policy Under Firm-Level Heterogeneity in a Small Economy

Demidova, Svetlana A. - 2007

In this paper we explore the effect of trade policy on productivity and welfare in the now standard model of firm-level heterogeneity and product differentiation with monopolistic competition. To obtain sharp results, we restrict attention to an economy that takes as given the price of imports...

Persistent link: https://www.econbiz.de/10012775477

Sub-National Differentiation and the Role of the Firm in Optimal International Pricing

Balistreri, Edward J. - 2007

We illuminate the relationship between optimal firm pricing and optimal trade policy by exploring a generalized model that accommodates product differentiation at both the national and sub-national (firm) levels. We assume monopolistic competition in the differentiated products at the...

Persistent link: https://www.econbiz.de/10012776874

Are Shocks to the Terms of Trade Shocks to Productivity?

Kehoe, Timothy J. - 2007

International trade is frequently thought of as a production technology in which the inputs are exports and the outputs are imports. Exports are transformed into imports at the rate of the price of exports relative to the price of imports: the reciprocal of the terms of trade. Cast this way, a...

Persistent link: https://www.econbiz.de/10012776937

The Japanese Trade Balance : Recent History and Future Prospects

Backus, David K. - 2007

I examine the evolution of the Japanese trade balance and its relation to the terms of trade and the value of the yen. Using a vector time series model, I predict that the trade surplus will fall from a high of 3.7 percent of GNP in late 1992 to about 2.6 percent in 1995. This relatively modest...

Persistent link: https://www.econbiz.de/10014074073

Endogenous Credit Cycles

Gu, Chao - 2011

(crunches, freezes, crises) in theory, and as recently observed in actual economies …

Persistent link: https://www.econbiz.de/10013119597

Terms of Trade and Global Efficiency Effects of Free Trade Agreements, 1990-2002

Anderson, James E. - 2011

This paper infers the terms of trade effects of Free Trade Agreements (FTA's) with the structural gravity model. Using panel data methods to resolve two way causality between trade and FTA's, we estimate direct FTA effects on bilateral trade volume in 2 digit manufacturing goods from 1990-2002....

Persistent link: https://www.econbiz.de/10013125913

Do Developed and Developing Countries Compete Head to Head in High-Tech?

Edwards, Lawrence - 2010

Persistent link: https://www.econbiz.de/10013142078