Working Papers

This paper characterizes the transitional dynamics of the savings rate in the neoclassical growth model. I start with a general formulation with weak assumptions on preferences and technology and go on to fully describe the transitional behavior of the...

We study the welfare consequences of reductions in trade costs in a general equilibrium model with symmetric firms and oligopolistic competition. We build on the nested CES model with a continuum of sectors in Atkeson and Burstein (2008), and derive...

We study how the U.S.-China trade conflict has reshaped global trade patterns and how these changes interact with the rise of geoeconomic rivalry. Using recent tariff policy changes and monthly international trade flow data, we document a large...

We develop a general equilibrium model of international trade in which the temporal structure of production is a key determinant of comparative advantage. Building on Böhm-Bawerk’s theory of capital, the model formalizes the idea that production processes...