International trade patterns at the product level are surprisingly dynamic. The majority of trade relationships exist for just a few, often only one to three, years. In this paper, I examine empirically the duration in German import trade at the 8-digit product level from 1995 to 2005. I find...

The Group of Eight (G8) is an unofficial forum of the heads of state of the eight leading industrialized countries. In this paper, I examine the effect of the G8 (and its predecessor, the G7) on international trade. I use a gravity model of trade; the panel data set covers bilateral trade between...

We analyze competition between two platforms with positive network externalities. Platforms can choose to interconnect or alternatively, operate exclusively. We examine how this decision will affect pricing behaviour and incentives to invest in Platform quality. We find that interconnection is...

This paper contributes to the debate on the role of money in monetary policy by analyzing the information content of money in forecasting euro-area inflation. We compare the predictive performance within and among various classes of structural and empirical models in a consistent framework using...

European economies are characterized by unionized labor markets and a pronounced governmental redistribution of income. This paper studies a model where those two features are combined with the possibility for individuals to make charitable contributions to the poor. The model exhibits...

This paper explores official trade data to identify patterns of smuggling in international trade. Our main measure of interest is the difference in matched partner trade statistics, i.e., the extent to which the recorded export value in the source country deviates from the reported import value...

This study explores the effects of market deregulation on employment growth. Empirical analysis of an OECD country panel (1990-2004) suggests that lower levels of product and labor market regulation foster employment growth, including through sizable interaction effects. A theoretical framework...