The failure of declining trade-related costs to be reflected in estimates of the standard gravity model of bilateral trade might be called the quot;missing globalization puzzle.quot; This puzzle is most apparent in the estimated distance coefficients found in the literature, which show no...

The failure of declining trade-related costs to be reflected in estimates of the standard gravity model of bilateral trade might be called the ""missing globalization puzzle."" This puzzle is most apparent in the estimated distance coefficients found in the literature, which show no evidence of...

The paper evaluates how increases in banks’ and nonfinancial corporates’ default risk are transmitted in the global economy, using in a vector autoregression model for 30 advanced and emerging economies for the period from January 1996 to December 2008. The results point to two-way causality...