In this paper we study how 103 bilateral Regional Trade Agreements (RTAs) shape bilateral trade flows over time. The analysis of quarterly trade flows from 1982 Q4 to 2018 Q4 shows dynamic differences between RTAs and among trading partners. Results show that countries benefit unevenly from...

This paper offers a comprehensive view of international risk sharing and of related policy issues from the perspective of the European Union. The traditional analyses contemplate three risk-sharing channels: the capital markets channel (through cross border portfolio investments), international...