The effects of Regional Trade Agreements (RTAs) are disputed. In this paper, we assess these effects using capital … when RTAs are signed between countries that already engage in high volumes of trade. Stock markets also rise more when …

to maintain domestic markets open to trade may erode to the point where a return to protection becomes a serious …

This paper studies the relationship between trade liberalization and informality. It is often claimed that increased … comply with labor market legislation. Using data from two countries that experienced large trade barrier reductions in the … find no evidence of a relationship between trade policy and informality. In Colombia, we do find evidence of such a …

plausible in the literature on Customs Unions (or other regional trade agreements) may actually hold. The idea is to make …

theoretical trade models that the direction of trade is both predetermined for each good for each country and fixed. Here, we …-good, pure-exchange model with CES preferences. We compute free trade competitive equilibria, three-country non-cooperative Nash … equilibria, and customs union equilibria for randomized parameterizations, and find that trade patterns change in around 35% of …

A network/search view of international trade in differentiated products is proposed. It is shown that this view can … explain the importance of ethnic and extended family ties in trade, the success of diversified trading intermediaries such as … Japan's sogo shosha, and the ubiquity of government export promotion policies such as subsidized trade missions. …

itself to be endogenous, this paper analyzes the impact of unilateral trade liberalization by one country on its partner …'s trade policies. We find that such unilateral liberalization may induce reciprocal tariff reductions by the partner country …

Most empirical policy work requires the aggregation of policies. Trade policy aggregation exemplifies the aggregation … problem poignantly, with thousands of highly dispersed trade barriers. This paper provides methods of policy aggregation that … income by around 3 times the global gains from free trade. …

Starting in 1985, Colombia experienced gradual trade liberalization that culminated in the drastic tariff reductions of … 1990-91. This paper exploits these trade reforms to investigate the relationship between protection and wages. The focus of … Colombia exhibit remarkably less persistence over time than U.S. wage premiums. Similarly, measures of trade protection are …

We examine whether the Colombian trade reform can explain any of Colombia's decline in urban poverty between 1984 and … 1995. Our approach focuses on short- and medium- run channels through which trade reform could affect poverty. Despite the … chronological coincidence of the poverty reduction with the trade reforms over this period, we do not observe any evidence of a link …