To quantify the implications of common currencies for trade and income, we use data for over 200 countries and dependencies. In our two-stage approach, estimates at the first stage suggest that belonging to a currency union/board triples trade with other currency union members. Moreover, there is no evidence of trade-diversion. Our estimates at the second stage suggest that every one percent in...

Economists believe that the development of the industry sector is for the benefit of other sectors of the economy. In 23 groups of industrial activity in classification ISIC, the production and export of wood industries have received less attention in developing countries. exports of wood products have a major impact on the GDP and provide employment and sustainable development of natural resou...

Economists believe that the development of the industry sector is for the benefit of other sectors of the economy. In 23 groups of industrial activity in classification ISIC, the production and export of wood industries have received less attention in developing countries. exports of wood products have a major impact on the GDP and provide employment and sustainable development of natural resou...

in this study, we assess the impact of oil price changes on the macroeconomic variables of some oil importers in oecd countries, including usa, italian, france and japan during the period 1960-2002. the results for different countries imply asymmetric impact of oil price changes on gdp growth rates; moreover, the results show that monetary shocks are an important and noticeable factor explainin...

One of the main causes behind the trade collapse of 2008-09 was a significant fall in the demand for durable goods. This paper develops a small country, overlapping generations model of international trade in which goods durability gives rise to a more than proportional fall in trade volumes, as observed in 2008-09. The model has three goods two durable, traded goods and one non-durable, non-tr...

This paper aims to identify key challenges facing Iran and South Korea in their bilateral trade and investment relations. In particular, it is concerned with the policy implications which can be useful for policy makers and business people of both countries. For this purpose, we review and analyze the recent developments of the Iranian economy and bilateral trade and investment relations betwee...

This short note examines some time series evidence relating prices of exports and imports to the aggregate US wage over 34 years of falling tariffs starting in the mid 1960s. The cointegrated unit root series lead to error correction and vector autoregression models. The lost protection and changing traded prices lowered the US wage very slightly, by less than 1%. © 2007 Elsevier Inc. All right...

We analyse the behaviour of a multi-sector small open economy with involuntary unemployment due to fair wages. The equilibrium level of employment depends in an intuitively appealing way on the sectoral structure of the economy. It is shown that induced changes in employment are a driving force behind many of the comparative static results. Fair wage variants of the Heckscher-Ohlin and the Rica...

Noussair et al (1995) invoked a trading environment similar to the 2 x 2 Ricardian model and observed the law of comparative advantage. In this experiment, we apply the same experimental setting but increase the number of goods and countries. We report an experiment to test a 3 x 3 Competitive Ricardian Model (CRM). The patterns of trade and output predicted by the law of comparative advantage ...

Although initially originated as a totally empirical relationship to explain the volume of trade between two partners, gravity equation has been the focus of several theoretic models that try to explain it. Specialization models are of great importance in providing a solid theoretic ground for gravity equation in bilateral trade. Some research papers try to improve specialization models by addi...