This Paper considers tax competition and tax harmonization in the presence of agglomeration forces and falling trade …

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 …

Our paper integrates results from trade-in-task theory into mainstream trade theory by developing trade … showing the standard gains-from-trade theorem does not hold for trade-in-tasks. We show trade-in-tasks creates intraindustry … trade in a Walrasian economy, and derive necessary and sufficient conditions for analyzing the impact of trade-in-tasks on …

This paper presents five theoretical openness-and-growth links that can account for trade-induced investment-led growth …. The links are all demonstrated with neoclassical growth models developed in the context of trade models that allow for … imperfect competition and scale economies. This sort of old-growth-theory-in-a-new-trade model has not been thoroughly explored …

This paper tests whether trade in new goods is partially responsible for the pro-trade effects of the euro and provides … countries at the most disaggregated level of trade data that is publicly available. Using predictions from a heterogeneous …-firms trade model in a multi-country environment to structure our empirical model, we find that the euro had a positive impact on …

necessary and sufficient conditions for the effects on wages, prices, production and trade. We show that offshoring requires … modification of the four classic international trade theorems, so econometricians who ignore offshoring might reject the Heckscher … comparative advantage and can lead to intra-industry trade in a Walrasian setting. The model is extended to allow for two …