We develop a simple model that jointly determines the level of trade and the extent of trade-disruption risk associated … trade coupled with high trade-disruption risk, or (ii) a high level of trade coupled with low trade-disruption risk … varies systematically with trade-disruption risk and, second, that trade between country pairs tends to converge over time …

We develop a simple model that jointly determines the level of trade and the extent of trade-disruption risk associated … trade coupled with high trade-disruption risk, or (ii) a high level of trade coupled with low trade-disruption risk … varies systematically with trade-disruption risk and, second, that trade between country pairs tends to converge over time …

approaches. Originality/value - Unlike priorstudiesthat considersustainability and disruption risk separately, thisresearch …