If sectoral trade flows obey structural gravity, countries' bilateral trade imbalances are the result of macro trade … World, we show that large and pervasive asymmetries in trade barriers are required to account for most of the observed …

economies and the rest of the world. Through a variance decomposition and counterfactuals, the model allows us to assess the …

economies and the rest of the world. Through a variance decomposition and counterfactuals, the model allows us to assess the …

Based on an empirical gravity model of sectoral bilateral trade, we uncover three features of bilateral trade balances …. First, the difficulty of gravity models in fitting the observed level of bilateral balances is likely due to the presence of …

economy in the last decade and to measure the influence of the world economic crisis of 2009 on their external trade sector … regions of the world economy for the international trading transactions of CEE countries. The exercise revealed that CEE … ratio as a result of the world economic turbulences starting in 2009. Whereas the transition in the current account balance …