In this paper, we present a model where trade is motivated both by preference for variety and comparative advantages. We use this framework to analyze the welfa
Regional economic arrangements such as free trade areas (FTAs), customs unions, and currency blocs, have become increasingly prevalent in the world economy. Bot
Global value chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade. This shift enabled an unprecedented
The Oxford Handbook on the World Trade Organization provides an authoritative and cutting-edge account of the World Trade Organization. Its purpose is to provid