Economic integration, encompassing the removal or reduction of trade barriers and the coordination of monetary and fiscal policies, plays a pivotal role in promoting cooperation among nations. This systematic literature review examines the role of global value chains (GVCs) in promoting economic...

In this paper we propose a theoretical model of international trade that shows the welfare gains from trade are much higher than what Arkolakis et al 2014 find. We use the idea of weak linkages and the complementarity between the intermediate goods as in Jones 2011. The idea is simple....

This paper investigates how input trade liberalization affects fi rm-level wage inequality between skilled and unskilled labor. A fall in input tariffs generates increased fi rm pro fits, which, in turn, widens wage inequality since skilled labor enjoys a larger proportion of the incremental pro...

In 1994, the Brazilian government launched a stabilization program based on a dollar-peg exchange rate regime. In January 1999, that regime was abandoned; the result was an exchange rate devaluation of about 50%. There was a fear that inflation would come back due to the relative price change in...