The failure of Doha Round is a serious step backward for the WTO and the multilateral trading system. Some analysts already discussed in their research about the round as being already closed and they propose the developing of a new program within the organization. WTO still remains a very...

We show that the composition of international trade has important implications for the optimal volatility of the exchange rate, above and beyond the size of trade flows. Using an analytically tractable small open economy model, we characterize the impact of the trade composition on the policy...

The failure of trade economists to anticipate the extreme drop in trade post-Lehman Brothers bankruptcy suggests that the behaviour of trade in exceptional circumstances may still be poorly understood. In this paper we explore whether uncertainty shocks have explanatory power for movements in...

In the basic model of the literature on international environmental agreements (IEAs) (Barrett 1994; Rubio and Ulph 2006) the number of signatories of self-enforcing IEAs does not exceed three, if non-positive emissions are ruled out. We extend that model by introducing a composite consumer good and...

Adam Smith (1776) devoted the first three chapters to the division of labor in his Inquiry into the Nature and Causes of the Wealth of Nations. This process, carried far enough, eventually results in a divergence between the distributions of supplies and demands of such...

The Great Recession of 2008–09 provided a fertile ground for protectionist pressures to increase. It caused a negative shock to the global economy that is comparable with the Great Depression of the 1930s. International trade suffered a historical collapse in 2009, but trade flows quickly...

Over the last decade, international trade has been growing faster than global production, steadily increasing interdependence among nations. Sustained trade growth has been accompanied by profound changes in the patterns of trade flows, reflecting new production structures emerging under the...

The development of international trade has enabled industrialised countries to obtain supplies of high-quality, high-tech products very cheaply from developing countries. But the ever-falling prices of these imported goods have eroded the interest of industrialised countries in producing them...

In the basic model of the literature on international environmental agreements (IEAs) (Barrett, 1994; Rubio and Ulph, 2006), the number of signatories of self-enforcing IEAs does not exceed three, if non-positive emissions are ruled out. We extend that model by introducing a composite consumer good...

In the last decades, the world economy has been undergoing a process of production reorganisation and relocation of unprecedented scale and scope. The era of ?globalisation? has been characterised by falling barriers to trade and increasing capital flows, both of speculative and investment...