The primary motivation behind quantitative modeling in international trade and many other fields is to shed light on … illustration of how to use our IV-based goodness-of-fit measure in practice, we revisit the welfare consequences of Trump's trade …

escalation. Yet neoclassical trade theory - and modern Ricardian trade models, in particular - predict that welfare … tariff escalation increasing in the extent of downstream returns to scale. A quantitative evaluation of the US-China trade …