significant gains for liberalization of trade through the World Trade Organization. It is not clear that the reported gains are at … multilateral trade liberalization are very small even in a formal New Keynesian model incorporating economies with significant …

Following the onset of the financial crisis in September 2008 and the subsequent “Great Trade Collapse” (Baldwin 2009 …), many countries actively used trade policy instruments as part of their response to the global recession. Governments … pursued a mix of trade liberalization, trade promotion, and trade restrictions. The choice of trade policy has varied, with …

We build and estimate a structural dynamic general equilibrium model of growth and trade. Trade affects growth through …, growth affects trade, directly through changes in country size and indirectly through altering the incidence of trade costs …. Theory translates into an intuitive econometric system that identifies the causal impact of trade on income and growth, and …

We develop a dynamic multi-country trade model with foreign direct investment (FDI) in the form of non-rival technology … capital. The model nests structural gravity subsystems for FDI and trade, with accumulation/decumulation of phyisical and … to 9% of world’s welfare and to 11% of world’s trade, unevenly distributed among winners and losers. Net exports of FDI …

We build and estimate a structural dynamic general equilibrium model of growth and trade. Trade affects growth through …, growth affects trade, directly through changes in country size and indirectly through altering the incidence of trade costs …. Theory translates into an intuitive econometric system that identifies the causal impact of trade on income and growth, and …

We develop a dynamic multi-country trade model with foreign direct investment (FDI) in the form of non-rival technology … capital. The model nests structural gravity subsystems for FDI and trade, with accumulation/decumulation of phyisical and … to 9% of world's welfare and to 11% of world's trade, unevenly distributed among winners and losers. Net exports of FDI …

According to the Washington Consensus, developing countries' growth would benefit from reductions in barriers to trade …. However, the empirical basis for judging trade reforms is weak. Econometrics are mostly ad hoc; results are typically not …

), goods that require high R&D expenditures, and labour-intensive products such as clothing. Multilateral trade liberalization … market shares for some of these products among developing countries. Projections based on a standard trade model suggest that … moving to full trade liberalization would lead to an increase in the share of agricultural products in total world trade by …

effect is more likely to emerge as trade liberalization proceeds. …

What has been the overall global welfare impact of the accession to the World Trade Organization of a large country … simple user-friendly formula to calculate the global welfare impact of the simultaneous trade liberalization of a number of … countries? How sensitive is the answer to the assumption of the trade model? We find a striking answer to these questions. We …