market size, or government spending. We introduce trade costs and endogenous varieties in a two-country general … and differentiation costs also have higher GDP, but supply a larger array of goods at improved terms of trade. The sign of … the international welfare spillovers depends on terms of trade, but also on consumers' taste for variety. Higher domestic …

the dynamics of the U.S. trade balance. Using sign restrictions based on robust predictions by standard theory, we … rest of the world, and deteriorate net exports; both the U.S. real exchange rate and the U.S. terms of trade appreciate in … response to these shocks. Demand shocks also appreciate the dollar, but have negligible effects on absorption and the trade …

market size, or government spending. We introduce trade costs and endogenous varieties in a two-country general … and differentiation costs also have higher GDP, but supply a larger array of goods at improved terms of trade. The sign of … the international welfare spillovers depends on terms of trade, but also on consumers’ taste for variety. Higher domestic …

substantial macroeconomic effects, raising US consumption, investment and the terms of trade, relative to the rest of the world … trade flows. This evidence suggests a fundamental role of cross-country endogenous demand and wealth movements in shaping …

market size, or government spending. We introduce trade costs and endogenous varieties in a two-country general … and differentiation costs also have higher GDP, but supply a larger array of goods at improved terms of trade. The sign of … the international welfare spillovers depends on terms of trade, but also on consumers' taste for variety. Higher domestic …

characterizing the optimal policy are not only in domestic output gaps and inflation, but also in misalignments in the terms of trade …

the insurance intertemporal trade provides against forecastable contingencies. We show that the main mechanisms proposed …

the insurance intertemporal trade provides against forecastable contingencies. We show that the main mechanisms proposed …

-economy models, especially when these are adopted in the analysis of policy trade-offs likely to be affected by imperfections in …

-economy models, especially when these are adopted in the analysis of policy trade-offs likely to be affected by imperfections in …