of the US trade balance. It employs a Bayesian structural VAR model that requires imposing only a minimum of economically … current account in the past, accounting for up to 30% of the movements of the US trade balance at a horizon of 20 quarters. By … the US trade balance. Our findings suggest that large exchange rate movements may not necessarily be the key element of an …

controls also appear to be less motivated by worries about financial market volatility or fickle capital flows per se, but … inflation and output volatility. Moreover, countries with a high level of capital controls, and those actively implementing …

How does trade liberalization affect wages? This is the first paper to consider in theory and data how the impact of …

characteristics and trade costs as predicted by the Markusen (1997, 2002) model. When countries differ in relative factor endowments … and trade costs are low, investment liberalization stimulates exports, whereas when countries are similar in terms of … relative factor endowments and size, and trade costs are moderate to high, investment liberalization reduces exports. …

This paper estimates the effects of trade liberalization on plant productivity. In contrast to previous studies, we …