We investigate the response of US trucking firms to the removal of barriers to crossborder trucking under NAFTA. This was done via a program implemented in 2007, cancelled in 2009, and reinstated in 2011. We find that, unsurprisingly, the program's start resulted in lower stock returns,...

From 1990 to 2010, free trade helped a billion people lift themselves out of extreme poverty. But the pace of liberalisation has since slowed and protectionism is back in fashion. Fortunately, Brexit provides a golden opportunity for the UK to become a global champion of free trade again. This...

While the renegotiation of the North American Free Trade Agreement has received far more attention, a lesser-known U.S. trade deal has also been reworked. In April of 2017, President Trump proclaimed his displeasure with the Korea-U.S. Free Trade Agreement (commonly referred to as “KORUS”),...

Bilateral and regional cooperation initiatives in Asia have been growing in importance over the last five years.These accords span the real and financial sectors; rather than following the more typical pattern of "trade first,money later", recent policy initiatives involve the simultaneous...

This paper studies the connection between trade and growth in the context of a partial and inconsistent liberalization process in a specific Eastern European country in transition towards market economy, namely, the Republic of Belarus. The analysis of the country trade patterns during the USSR...

Multinational firms are known to shift profits and countries are known to compete over shifty profits. Two major principles for corporate taxation are Separate Accounting (SA) and Formula Apportionment (FA). These two principles have very different qualities when it comes to preventing profit...

This paper examines the linkages between the trade of goods and financial assets. Do both flows behave as complements (implying a positive correlation) or as substitutes (negative correlation)? Although a classic topic in international macroeconomics, the empirical evidence has remained...

During the last century there has been a huge reduction in trade costs at almost every spatial scale impulsed not only by technological advances applied to transport and communication systems, but also by the spread of regional trade agreements and other related schemes. This estringent fall has...

I develop an index for economic integration accounting for its gradual and bilateral nature: the Gradual And Bilateral Integration (GABI) index. The graduality captures differences in the depth and path of five stages in economic integration and is an improvement over the use of binary dummy...

This paper examines the linkages between the trade of goods and financial assets. Do both flows behave as complements (implying a positive correlation) or as substitutes (negative correlation)? Although a classic topic in international macroeconomics, the empirical evidence has remained...