This paper develops a model of international trade with a continuum of countries and sectors, which combines Ricardian comparative advantage and increasing returns to scale. Trade consists of both ...
Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation The average number of hours worked has been declining in many countries. This can be explained if workers have preferences ...
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, ...
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