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328 results

328 results

Measuring the Average Period of Production

Journal Article

The importance of time in production was emphasized by Classical economists and was at the core of the Austrian capital theory proposed by Böhm-Bawerk and further elaborated by Wicksell, Hicks, Dorfman, and many others. A central concept in this...

The Uncharted Waters of International Trade
Journal Article

The field of international trade has undergone significant theoretical and empirical advancements over the last twenty-five years. A key breakthrough has been the emergence of firm-level approaches to studying exporting, importing, and global value chains...

Organizing the Global Value Chain
Journal Article
We develop a property-rights model of the firm in which production entails a continuum of uniquely sequenced stages. In each stage, a final-good producer contracts with a distinct supplier for the procurement of a customized stage-specific component. Our...

Offshoring and the Role of Trade Agreements
Journal Article
The rise of offshoring of intermediate inputs raises important questions for commercial policy. Do the distinguishing features of offshoring introduce novel reasons for trade policy intervention? Does offshoring create new problems of global policy...

Intermediated Trade
Journal Article
This paper develops a simple model of international trade with intermediation. We consider an economy with two islands and two types of agents, farmers and traders. Farmers can produce two goods, but to sell these goods in centralized (Walrasian) markets...

Foreign Influence and Welfare
Journal Article
How do foreign interests influence policy? How are trade policies and the viability of trade agreements affected? What are the welfare implications of such foreign influence? In this paper we develop a model of foreign influence and apply it to the study...

International Trade and Organizations
Report
The three central primitives of international trade theory are consumer preferences, factor endowments, and the production technologies that allow firms to transform factors of production into consumer goods. A limitation of traditional trade theory...