This paper compares the fundamental postulates of neoclassic paradigm and Keynesian model withthe modern capitalism. It shows that neoclassic paradigm, which underlies economic structure ofmajor countries, is inadequate to the essence of market economy. The research concludes that thecurrent...

We provide novel evidence on the micro-structure of international trade during the 2008 financial crisis and subsequent global recession exploring a rich firm-level data set from Spain. The analysis is motivated by the surprisingly strong export performance of Spain in the aftermath of the great...

We provide novel evidence on the micro-structure of international trade during the 2008 financial crisis and subsequent global recession by exploring a rich firm-level data set from Spain. The focus of our analysis is on changes at the extensive and intensive firm-level margins of trade, as well...