A partir de inicios del presente siglo, el espectacular y prolongado auge de precios de las commodities trajo aparejado un drástico cambio en la configuración macroeconómica regional. Ello tuvo su correlato en la cambiante naturaleza de los dilemas enfrentados por la política económica....

I provide new estimates of border frictions for 14 countries using local, national, and international Big Mac prices. I find that borders generally introduce only small price wedges, far smaller than those observed across New York City neighboring locations.

Due to the rapid appreciation of RMB, the consistent declining of the US economy and other uncertain factors, China’s export volume to the United States has declined. The paper first chooses six industries to divide them into three groups based on per capita possession of capital, then employs...

This paper investigates the feasibility of creating a common-currency union consisting of 16 countries in Southern Africa. We estimate an augmented-gravity model that includes public deficit, public debt, public expenditure, inflation, and the foreign reserves position. We also integrate...

Antidumping (AD) and countervailing duty (CVD) procedures are governed by specific rules requiring both injury (by reason of imports) and dumping/subsidies, and thus might be expected to be less susceptible to pressures for protection arising from cyclical movements in the domestic macroeconomy....

The Doha Round of the World Trade Organization (WTO) negotiations has been ongoing for 10 years, and given political cycles in major countries, there is not much hope for a rapid conclusion. The topics on the table are important, and in principle there is enough substance for all countries to...

Following the onset of the financial crisis in September 2008 and the subsequent “Great Trade Collapse” (Baldwin 2009), many countries actively used trade policy instruments as part of their response to the global recession. Governments pursued a mix of trade liberalization, trade promotion,...

The paper assesses the transmission of US supply, demand and monetary policy shocks between 1976 and 2008 based on a factor-augmented vector autoregressive model (FAVAR) which is applied to a newly constructed set of more than 200 German time series. The study not only assesses the transmission...

This paper underlines the influence of trade diversification on GDP per capita growth. Using methodologies developed by Brenton and Newfarmer (2007) and Amurgo- Pacheco and Pierola (2008), we breakdown exports of 64 developing countries into intensive margin (old traded flows), extensive margin...

We survey recent literature on the causes of the collapse in international trade during the 2008–2009 global recession. We argue that the evidence points to the collapse in aggregate expenditure, concentrated on trade-intensive durable goods, as the main driver of the trade collapse. Inventory...