Economics Resources:

International Trade

International trade---considered by some a closed chapter in economic theory---continues to inspire research, particularly in the so-called ``new'' trade theory of modelling trade with imperfect competition, and new ``new'' trade theory of micro-level firms with heterogeneous productivity, as well as the perennial problems of strategic trade policy and political economy in trade. The study of the influence of trade costs on different models has also, in recent times, garnered considerable attention.