If international trade is strictly trade in intermediate goods, would the common presumption, that small, less developed economies (the South) lose from trade wars still be true? We address this question by constructing a dynamic general equilibrium model in which the North and the South trade...

How large are the welfare gains from trade? Would such gains be significantly amplified in the long run when productivity is endogenously enhanced? To address these questions, we focus on the dynamic effect of trade, in particular, how trade affects the incentives for technological advancement....

This paper uses computational techniques to assess whether or not various propositions that have been advanced as plausible in the literature on Customs Unions (or other regional trade agreements) may actually hold. The idea is to make probabilistic statements as to whether propositions of...