Paul Samuelson's recent article in the Journal of Economic Perspectives (2004) started drawing attention even before it was officially published (Fingleton, 2004). His conclusions go against the weight of 200 years of trade theory in concluding that international trade can, at times, result in...

We construct a new database which covers production and trade in 136 primary commodities and 24 manufacturing and service sectors for 145 countries. Using this new more granular data, we estimate spillover effects from plausible trade fragmentation scenarios in a new multi-country, multi-sector,...

We develop a two-country, two-sector model with a continuum of workers to address the link between migration and trade where policy is determined by a simple referendum. In particular, we address two questions. First, are states already in free trade areas more likely to support full integration...

This paper treats capital flows as risky growth opportunities for both investing and host countries in a standard mean-variance model. Differing optimal tradeoffs between growth and volatility on both sides of capital flows are examined on the basis of their different attitudes toward...

In this paper, role of international trade in economic development is discussed, both from the perspective of theoretical development and empiricism. In particular, it revisits theories pertaining to intra-industry and inter-industry trade and presents evidences of resilience in intra-industry...

Since the recovery from the great financial crisis in 2010, global real trade flows grew much slower than pre-crisis, in both absolute terms (growth rates) and relative terms (relative to GDP, from 2:1 in the great 1990’s to 1:1 since 2012) A debate has arisen as to whether this global trade...

In the world trading system there has been an increase in unilateral trade and bilateral trade of differentiated products. However, the main trade theories have difficulties providing an explanation for unilateral trade. We show that profit seeking abroad by merchants or countries originates...