the causal connection between lack of exposure to commercial trade and proclivity to sudden stops. On the theoretical … front, I show how exposure to trade raises the creditworthiness of countries and reduces the probability of sudden stops. In … debt is more attractive. Therefore, conditional on the amount that lenders are willing to loan, decreased exposure to trade …

arises, this paper examines the effects of trade restrictions on consumption and employment in the two countries. When facing … its currency depreciates and hence employment and consumption increase. -- persistent unemployment ; trade restrictions …

Several studies have analyzed the trade and output effects of the Transatlantic Trade and Investment Partnership (TTIP …

This paper shows that a regional bias resulting from trade integration alters the transmission of a countryś monetary … simple model which illustrates how a concentration of trade flows among regional trading partners affects the sensitivity of … the trade balance to the terms-of-trade. In particular, the trade balance becomes less sensitive to the terms-of-trade vis …

volume of trade fall on impact. Aggregate output rises in the short run, reflecting increased labor supply and a more … utility and the volume of trade increase compared to the pre-reform equilibrium. For a plausible calibration of the model …

Trade liberalization leads to long-run gains, but it can also involve costly short-run macroeconomic adjustment. The … elements of both international trade and macroeconomic models. The welfare effect of trade liberalization is decomposed into a …

This paper examines two important issues for a small high-inflation open economy with trade controls where the … economy influences the probability of success of the program; and second, the conditions under which a trade reform …

This paper examines trade reforms of uncertain duration undertaken in economies subject to real foreign and domestic …