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...

We examine the characteristics and comovement of cycles in house prices, credit, real activity and interest rates in advanced economies during the past 25 years, using a dynamic generalized factor model. House price cycles generally lead credit and business cycles over the long term, while in...