The boundaries of multinational enterprises and the theory of international trade
The new trade theory states that trade and its gains can come about independently of any pattern of comparative advantage. These gains may arise as firms take advantage of economics of scale and pursue plans of product differentiation. An update regarding recent research on the theory of the multinational enterprise is presented. Focus is centered on research and the models developed by trade economists.
Publication Name: Journal of Economic Perspectives
The dollar and the US terms of trade
The relationship of dollar value changes and the US terms of trade (TOT) is discussed. Two tests involving cross- correlation functions show that a strong relationship does not exist between the dollar and TOT. The weak response of the American dollar toward TOT is seenin the decline of dollar value resulting in a similar but slower decline in TOT
Publication Name: Journal of Macroeconomics
Currency unions and trade: the special case of EMU
A panel estimation of the gravity equation in a dynamic framework is used in order to capture effects like trade persistence. The impact of the adoption of Euro on the commercial transactions of EMU countries is investigated.
Publication Name: Review of World Economics: Weltwirtschaftliches Archiv
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