We know that euro-area member countries have absorbed asymmetric shocks in ways that are inconsistent with a common nominal anchor. Based on a reformulation of the gravity model that allows for such bilateral misalignment, we disentangle the conventional trade cost channel and trade effects...

We know that euro-area member countries have absorbed asymmetric shocks in ways that are inconsistent with a common nominal anchor. Based on a reformulation of the gravity model that allows for such bilateral misalignment, we disentangle the conventional trade cost channel and trade effects...

Member countries of a currency union like the euro area have absorbed asymmetric shocks in ways that are inconsistent with a common nominal anchor. Based on a reformulation of the gravity model that allows for such bilateral misalignment, we disentangle the conventional microeconomic trade...

We investigate the systematic complementarities between import and export activities of firms using a novel firm-level data set for Germany. Specifically, we examine whether firms that import more are also inclined to export more, decomposing this relationship into extensive country and product...

Neuere Freihandelsabkommen wie die geplante Transatlantische Handels- und Investitionspartnerschaft (TTIP) beinhalten den Abbau regulatorischer Unterschiede. Die Überwindung technischer Barrieren verursacht im Unterschied zu klassischen Instrumenten der Handelspolitik wie Zöllen und Quoten...

Recent quantitative trade models treat import tariffs as pure cost shifters so that their effects are similar to iceberg trade costs. We introduce revenue-generating import tariffs, which act as demand shifters, into the framework of Arkolakis, Costinot and Rodriguez-Clare (2012), and generalize...