administration relative to free trade under imperfect competition. It shows that a country importing a good from foreign duopolists … may improve its welfare by setting a quota at the free trade quantity and giving a fraction of the quota licenses to the …

This paper considers the effects of trade policy-tariffs and quotas-when importing is done by competitive traders who … tariffs may restrict trade by more than originally intended. Furthermore, the allocation of property rights (quota licenses …

This paper reexamines the relationship between trade integration and business cycle synchronization (BCS) using new … value-added trade data for 63 advanced and emerging economies during 1995–2012. In a panel framework, we identify a strong … positive impact of trade intensity on BCS—conditional on various controls, global common shocks and country …

We examine how Korea’s capital flows and trade have been affected by the quantitative easing (QE) of the United … in the world market for trade. We find that QE had little direct impact on capital flows to Korea, and tapering is … the exchange rate spillover from QQME to Korea has been limited both on trade and capital flow fronts. …

the RoW, but has also gradually drifted away from the G7 in favour of the BRICs. Trade with the BRICs turns out to be the … strongest driver of this shift. Much of this impact unfolds through aggregate demand impulse from trade. As fiscal policy …

This paper examines the mechanisms through which output volatility is related to trade openness using an industry …-level panel dataset of manufacturing production and trade. The main results are threefold. First, sectors more open to … international trade are more volatile. Second, trade is accompanied by increased specialization. Third, sectors that are more open …