The United States and Argentina both experienced severe financial crises in the early 1890s. The causes of these crises have been studied in depth. Here, I analyze the recoveries from these crises, comparing the factors that propelled or hindered renewed economic growth, focusing on how changes...

Recent research in international trade emphasizes the importance of firms’ extensive margins for understanding overall patterns of trade as well as how firms respond to specific events such as trade liberalization. In this paper, we use detailed U.S. trade statistics to provide a broad...