Business cycles reflect changes over time in the amount of trade between individuals. In this paper we show that … incorporating explicitly intra-temporal gains from trade between individuals into a macroeconomic model can provide new insight into … "gains from trade" approach can easily explain why changes in perceptions about the future (including "news" about the future …

wealth. We use a two factor general equilibrium model and assume credit markets are absent. We explore the effects of trade … that developed countries need to ensure access to education when liberalizing trade to ensure they reap the potential gains … from trade …

execution and the risk is a result of price movements during a more gradual trading. The paper shows that the trade-off between …

This study explores the interaction between trade and geography in shaping the Islamic economic doctrine. We build a … model where an unequal distribution of land quality in presence of trade opportunities conferred differential gains from … trade across regions, fostering predatory behavior by groups residing in the poorly endowed territories. We show that in …

trader can walk away from a proposed trade when he learns the trading price. We show that when one trader's information is …

The combination of substantial terms of trade variability and unstable correlation patterns of trade prices with output … and trade volumes has led some to suggest a break in the link between trade volumes and prices. We find that oil accounts … for much of the variation in the terms of trade over the last twenty five years and its quantitative role varies …