Limited empirical work has been done to the diverging current account balances of the individual emerging Asian economies. Based on the intertemporal approach to current account, this paper empirically examines both the long-run and short-run impacts of initial stock of net foreign assets,...

This article investigates by means of an augmented gravity model, the impact of EMU on financial market integration across time by assessing its effect on capital (equities and bonds) holdings. We contribute to the respective literature by investigating this effect from a global perspective and...

During crises, governments resort to extraordinary fiscal and financial measures to mitigate the recessionary impacts of crises. These macroeconomic intervention measures along with aggregate demand and supply shocks and policy choices would affect the exporting environment of a country through...

We evaluate the aggregate effects of a change in tariffs on the US and world economies when tariff revenue is used to enact fiscal reform. Our model combines a standard international model of fiscal policy with taxes and a dynamic model of trade participation and tariffs that allows for...

We use a dynamic trade and reallocation model with downward nominal wage rigidities to quantitatively assess the economic consequences of recent U.S. tariff increases on imports from Mexico, Canada, and China, as well as the "reciprocal" tariff changes announced on "Liberation Day" and...

We study the short-run effects of import tariffs on GDP and the trade balance in an open-economy New Keynesian model with intermediate input trade. We find that temporary tariffs cause a recession whenever the import elasticity is below an openness-weighted average of the export elasticity and...

This paper uses a new dataset on the universe of Canadian imports and tariffs between 1924 and 1936, disaggregated into 1697 goods originating in 112 countries, to analyse the impact on Canadian imports of interwar Canadian trade policy, including the 1932 Ottawa trade agreements. Rather than...

We examine the impact of the COVID-19 pandemic on Kenya's foreign trade using quarterly trade data for the period 2019 to the second quarter of 2021. The exploratory analysis shows that growth of Kenya's merchandise exports remained resilient, largely supported by traditional exports of tea and...

This paper examines the early months of trade in goods between the United Kingdom and European Union in the aftermath of Brexit. Controlling for product-time and partner country effects across all European bilateral trade flows, we isolate the contribution of Brexit on trade in the first half of...

This paper examines the early months of post-Brexit trade flows in goods between Ireland and the United Kingdom. Controlling for product-level time effects across all global trade partners, we isolate the contribution of Brexit to trade in the first eight months of 2021 from other potential...