The international trading system is under threat. Many observers have already expressed serious concerns about the impact of Covid, the war in Ukraine, tensions over Taiwan and other natural and man-made disasters and their effects on the international trading system. Some even doubt its...

This paper evaluates the impact of the General Agreement on Tariffs and Trade's Agreement on Agriculture (GATT AA) on outcomes outlined as its sustainability goals. They include adopting and sustaining agricultural practices to lower fertilizer pollution from nitrogen and phosphate, as well as...

Trade liberalization leads to long-run gains, but it can also involve costly short-run macroeconomic adjustment. The paper explores the relative importance of these effects within a dynamic general equilibrium model that captures key elements of both international trade and macroeconomic models....

This paper integrates a two-period overlapping generations model with a standard two-sector Hecksher-Ohlin trade model and analyzes the impact of uncertainty on domestic investment in the exportable and importable sectors, the political economy linkages between trade and financial...

While new conventional wisdom warns that developing countries should be aware of the risks of premature capital account liberalization, the costs of not removing exchange controls have received much less attention. This paper investigates the negative effects of exchange controls on trade. To...

The European Union’s Association Agreements with several countries in the Southern Mediterranean Region (SMR) aim to promote deeper economic integration between the SMR and the EU by establishing a free trade area in twelve years. Because a large share of the SMR countries’ total imports...