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 …

Existing literature repeatedly documented a strong correlation between trade and growth. It has also shown a causal … also because of potential second best world effects and the implied endogeneity of trade policy. Policy recommendations for …

Several empirical papers have shown that international trade has a positive causal effect on a country's GDP or growth … rate. A common conclusion from these results is that a free trade policy will increase a country's GDP. This comment does …