This chapter discusses whether and how 'new quantitative trade models' (NQTMs) can be fruitfully applied to quantify … the welfare effects of trade liberalization, thus shedding light on the trade-related effects of further European … integration. On the one hand, it argues that NQTMs have indeed the potential of being used to supplement traditional ‘computable …

welfare effects of trade liberalization, thus shedding light on the trade-related effects of further European integration. On …This chapter discusses whether and how .new quantitative trade models.(NQTMs) can be fruitfully applied to quantify the …

This chapter discusses whether and how 'new quantitative trade models' (NQTMs) can be fruitfully applied to quantify … the welfare effects of trade liberalization, thus shedding light on the trade-related effects of further European … integration. On the one hand, it argues that NQTMs have indeed the potential of being used to supplement traditional 'computable …

that intermediation always magnifies the gains from trade under the former type of integration, but leads to more nuanced …This paper develops a simple model of international trade with intermediation. We consider an economy with two islands … frictions, our model reduces to a standard Ricardian model of trade. We use this simple model to contrast the implications of …

The theory of international trade has paid scant attention to market institutions. Neither neoclassical theory nor new … trade models typically specify the process by which supply and demand meet. Yet in the real world, intermediaries play a … central role in materializing the gains from exchange outlined by standard trade theories. In Antràs and Costinot (2010), we …