We build upon new developments in the international trade literature to isolate and quantify the long-run economic impacts of tariff changes on the United States and the global economy. In particular, we apply the most recent data and trade elasticity estimates to the Ricardian model of Caliendo...

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...

This paper examines the implications of cross-border component sourcing and production networks for trade competitiveness and welfare. Offshore sourcing of components in which it has comparative disadvantage, enables a country to enhance its comparative advantage in the final product. This...

The weak global GDP growth since the financial crisis in 2007-2009 has coincided with unusually weak growth in global trade. Organisations that monitor international macro-economic development have identified growing protectionism – not least the increase in non-tariff barriers to trade, such...

Contents: Symposium: Thirlwall's law at 4.0 thirlwall's law at 40 / Esteban Pérez Caldentey and Matías Vernengo -- Why thirlwall's law is not a tautology: More on the debate over the law / J.S.L. -- Mccombie endogenous growth, capital accumulation and thirlwall's dynamics: The case of Latin...

One might expect that differences in income elasticities in trade and/or differences in growth rates among countries would give rise to strong secular trends in real exchange rates; for example, fast-growing countries might need steady depreciation to get the world to accept their growing...

One might expect that differences in income elasticities in trade and/or differences in growth rates among countries would give rise to strong secular trends in real exchange rates; for example, fast-growing countries might need steady depreciation to get the world to accept their growing...