. Firms import intermediate inputs from home or foreign suppliers, but with higher costs in the latter case. Due to fixed … the model with newly-compiled monthly aggregate U.S. import data and industrial production data going back to 1962, and …

trade with the rest of the world, not the American colonies, that allowed Britain to export its rapidly expanding textile … explanations have placed an emphasis on the importance of trade with New World colonies, and the expanded supply of raw cotton it … provided. We test both hypotheses using calibrated general equilibrium models of the British economy and the rest of the world …