of a severe terms-of-trade shock. We demonstrate that the degree of flexibility reulting from these reallocative effects … depends partly on intrasectoral differences in import dependence. The paper introduces sectoral heterogeneity by allowing the …. Flexibility is shown to be reduced by:(i) low technological diversity, which constrains sectoral heterogeneity and hence the scope …

of a severe terms-of-trade shock. We demonstrate that the degree of flexibility resulting from these reallocative effects … depends partly on intrasectoral differences (i.e., sectoral heterogeneity) in import dependence. The paper introduces sectoral … heterogeneity by allowing the relative shares of labour and imported inputs used in production to differ across monopolistically …

strategy. Hence, pricing to market is both endogenous and heterogenous. This heterogeneity has important consequences for the …

strategy. Hence, pricing to market is both endogenous and heterogenous. This heterogeneity has important consequences for the …

We join the new trade theory with a model of choice between bank and bond financing to show the differential effects of … financial policy on the distribution of firm size, welfare, aggregate output, gains from trade, and the real exchange rate in a … effects on the extensive margin of trade, aggregate exports, and the real exchange rate. Increasing the degree of trade …

strategy. Hence, pricing to market is both endogenous and heterogenous. This heterogeneity has important consequences for the …

and exogenous test. I will use the World Trade Database to systematically test this hypothesis in a gravity model of trade …

This paper provides novel evidence on the determinants of the synchronization in business cycles. I find trade has …