Was the collapse of world trade between 1928 and 1937 caused by higher transport costs, increased protectionism or the … equilibrium effects of bilateral distance, international borders, and the payment system on trade. My results suggest that had … average tari and non-tari trade barriers remained at their 1928 level, total international trade would have been 64.6 % higher …

This paper studies the great collapse in value added trade using a structural decomposition analysis. We show that … changes in vertical specialisation accounted for almost half of the great trade collapse, while the previous literature on … gross trade has mainly focused on final expenditure, inventory adjustment and adverse credit supply conditions. The decline …

Recent research in international trade emphasizes the importance of firms’ extensive margins for understanding overall … patterns of trade as well as how firms respond to specific events such as trade liberalization. In this paper, we use detailed … U.S. trade statistics to provide a broad overview of how the margins of trade contribute to variation in U.S. imports …