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To export cleaner has been one important assignment of China's transformation to a green economy. Although China's emissions embodied in exports have been extensively studied, one often neglected aspe...
We develop a two-sector monetary model with a centralized and decentralized market. Activities in the centralizedmarket resemble those in a standard New Keynesian economy with price rigidities. In the...
Trade-offs in Monetary Policy     Trade-offs  Monetary Policy       2015/8/3
Trade-offs in Monetary Policy.
To better understand how a cap-and-trade market might function under high-carbon-price conditions, the authors ran a simulation called the ‘Electricity Strategy Game’ created by Severin Borenstein ...
This paper provides evidence that credit constraints are an important determinant of international trade flows. I exploit shocks to the availability of external finance and examine the i...
We study the collapse of international trade flows during the global financial crisis using detailed data on monthly US imports. We show that credit conditions were an important channel t...
Global value chains (GVCs) allow firms to produce and export final goods, or to perform only intermediate stages of production by processing imported inputs for re-exporting. We examine how financ...
Information,Trade and Common Knowledge.
Financial market imperfections severely restrict international trade áows because exporters require external capital. This paper identiÖes and quantiÖes the three mechanisms through which ...
What determines the choice of countries' trade partners? We show theoretically and empirically that financial market imperfections affect the number and identity of exporters' destinations. Big...
This paper examines the implications of alternative allowance allocation designs for industry profits and GDP under a federal cap-and-trade program to reduce greenhouse gas emissions. We employ a gene...
One important puzzle in international political economy is why lower-earning and less-skilled intensive industries tend to receive relatively high levels of trade protection. This pattern of protectio...
This article provides new evidence on the determinants of individual trade-policy preferences using individual-level survey data for the United States. There are two main empirical results. First, we ...

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