, there was little or no trade diversion away from the EU, implying that many of the anticipated long-run effects of Brexit … did not materialize before the new UK-EU trade relationship came into force in 2021. …

This paper shows that a manufacturer may benefit from parallel trade. In addition to an intuitive condition about the … retailers trade unsold inventories generally results in larger orders placed with the manufacturer, higher manufacturer profit … and higher consumer surplus. The model provides a simple explanation as to why the volume of parallel trade is now very …

This paper examines how trade liberalization affects the innovation incentives of firms, and what this implies for … industry productivity. For this purpose we develop a reciprocal dumping model of international trade with heterogeneous firms … under free entry are that trade liberalization increases (decreases) aggregate R&D for low (high) trade costs and increases …

market power. Two main results are shown. First, in the presence of buyer power trade liberalization may lead to retail … market concentration. Due to this concentration retail prices may be higher and welfare may be lower in free trade than in … autarky, thus reversing the standard effects of trade liberalization. Second, the pro-competitive effects of trade …

We construct a model of trade with heterogeneous retailers to examine the effects of trade liberalization on retail … degree of pass-through and the large benefit that consumers seem to derive from trade liberalization. …

We merge German balance-of-payments and foreign-affiliate-trade statistics to obtain data about trade in commercial …