Top Research Papers on Trading

" Hauser. op. cit. p. iv. " Times (I.ondrmV June 23, 1916, editorial. " Julieii Bcnda, La trahison des clercs (Paris, 1927), p. 72. 6o National Power and Foreign Trade T h u s , P r e z i o s i w a n t e d t o b u i l d u p s t r o n g I t a l i a n i n d u s t r i e s s o t h a t t h e y m a y " i n t h e i r o w n t i m e p r a c t i c e d u m p i n g , t u r n i n g a g a i n s t the G e r m a n s t h e i r o w n f a v o r i t e w e a p o n s . " " S i m i l a r l y , h e w i s h e d t o f r e e t h e B a n c a C o m m e r c i a l e f r o m G e r m a n i n f l u e n c e b e c a u s e " t h ...

In the context of trade protectionism impacting economic and environmental sustainability, a more comprehensive understanding of the impact of trade on carbon emissions is critical to economic and environmental sustainability. Existing literature mainly explores the impact of trade on carbon emissions from the perspective of trade openness, neglecting the perspectives of trade diversification and trade direction. This study aims to fill this gap by investigating the impact of trade openness (measured by trade volume, import, and export), and trade diversification (measured by import diversific...

This study examines how global and country- specific geopolitical instability affects Russian trade using data from 1996 to 2021. A panel regression model analyzes trade between Russia and its 15 top trading partners, exploring both direct and indirect effects. The analysis focuses on how accumulated foreign direct investment (FDI) and exchange rate fluctuations mediate these relationships. The findings reveal that global geopolitical instability decrease Russian trade by 0.0558. Interestingly, this negative impact is partially mediated by a decrease in FDI (-0.0805). This aligns with the Stru...

The paper quantifies how much of the reduction in Spanish trade flows with the UK after the 2016 Brexit referendum was diverted to other markets. To obtain reliable estimates of trade diversion we regress firm‐level changes in flows with all markets except the UK on changes in flows with the UK. In order to solve the positive correlation of trade flows between different markets we use the Brexit referendum as part of our instrumental variable. We then treat firms as units subjected to differential uncertainty shocks according to their initial patterns of sector and trade specialization. In par...

Introduction The Danish Edict of 16th March 1792 to abolish the slave trade, Erik Gobel The struggle for black liberty: revolution and emancipation in Saint Domingue, J.J. Pierce Racial equality, slavery and colonial secession during the constituent assembly, D. Geggues The Societe des Amis des Noirs and the abolition of slavery, D.P. Resnick Slaves by nature/ domestic animals and human slaves, K. Jacoby Whose abolition? Popular pressure and the ending of the British slave trade, Seymour Drescher Capitalism and slavery: a critique, Roger Anstey British evangelicals, economic warfare and the ab...

To curb the effect of the Covid-19 pandemic on public health, many countries around the world introduced lockdown policies in 2020. We estimate the effect of these lockdowns on international trade flows, using a rich dataset of monthly bilateral product-level trade flows that covers roughly three quarters of world trade. Our main findings are: (i) Both exporter and importer lockdowns substantially reduced international trade, with importer lockdowns having a stronger impact; (ii) The effect of lockdowns on trade was strongest during the first wave, and has since been declining; (iii) Beyond th...

v

The mere passage of time makes it possible to go beyond the largely humanitarian concerns of the nineteenth-century writers, and accept the trade as an evil and move on to the problem of why and how it took place for so many centuries and on such a scale.

Global food production is facing increasing uncertainties under climate change and the coronavirus pandemic, provoking challenges and severe concerns to national food security. The role of global agricultural trade in bridging the imbalance between food supply and demand has come to the fore. However, the impact of multifaceted and dynamic factors, such as trade policies, national relations, and epidemics, on the stability of the agricultural trade network (ATN) needs to be better addressed. Quantitatively, this study estimated grouping characteristics and network stability by analyzing the ch...

This book considers the reasons for the decline of trade union membership in recent years and discusses the prospects for recovery.

Paving the way Bomanite Corporation offers a variety of colored, textured and imprinted architectural concrete paving. The company offers 100 patterns and 25 colors in textures such as slate, granite, limestone, sandstone, cobblestone and used brick. Also offered are two types of imprinting tools for smooth surfaces (such as tile or brick patterns) and natural textured surfaces (such as granite or wood patterns). For more information contact Bomanite at 559/673-2411 or www.bomanite.com / Circle no. 272 Edging along PermaLoc Corporation's CleanLine aluminum landscape bed edging is easy to insta...

The current perception of the United Nations as the only institution charged with governing international security issues was neither intended nor required. Although the historical development of the World Trade Organization (WTO) caused a significant shift in its governance .focus, the WTO is uniquely situated to remedy several of the governance failures suffered by the United Nations and to act as an effective governor of national security in the economic sphere. Need for such an alternative governance mechanism is especially acute when nation-states refuse to recognize the authority of the ...

The methods used to perform large quantities of trading analysis and the ability to obtain `data 'technically are discussed and the first direct evidence of the impact of AT and HFT on the Indian Stock market is provided.

Our paper builds a novel panel data sourced from the Regional Trade Agreements Database and Database on International Trade in Services Statistics (ITSS) to explore the heterogeneous effects of service trade agreements on services trade. Then we employ a gravity model with the Poisson pseudo‐maximum likelihood (PPML) estimation and obtain the following findings: First, both general service trade agreements and deep service trade agreements promote services trade. Yet, deep trade agreements have a higher trade‐expansion effect (roughly 21.53%) on services trade compared to general ones (16.9%)....

The initiative on Trade and Environmental Sustainability Structured Discussions (TESSD) was launched in 2020, as part of an ambitious WTO package to gain worldwide relevance on the conversation on trade and environment. It has been portrayed as a non-negotiating initiative, conceived to encourage discussion and transparency over a wide number of topics. In its three years of existence, it has gained popularity and its discussions became more technical and focused; it is expected to deliver a Ministerial Declaration in the forthcoming thirteenth WTO Ministerial Conference. This paper questions ...

The COVID-19 pandemic resulted in large and varying declines in bilateral trade flows. This study investigates whether these diverse effects can be explained by differences in trade costs as measured by pre-existing trade policies (e.g. tariffs, non-tariff measures and trade agreements). Results indicate that trade flows subject to higher trade costs declined more than average during 2020. The results also show that trade costs have heterogeneous effects depending on the thickness of trade relationships, with small exporters being relatively more affected by the presence of trade costs. We int...

Preface vii LECTURE 1 Confronting Conventional Threats to Free Trade: The Postwar Revolution in the Theory of Commercial Policy 1 LECTURE 2 "Fair Trade," Income Distribution, and Social Agendas: Using Trade Theory to Meet New Challenges 45 LECTURE 3 Getting to Free Trade: Alternative Approaches and Their Theoretical Rationale 91 Index 121

Abstract Although Chinese exports to the United States hit an all-time high in 2022, it would be incorrect to conclude that the U.S.–China trade war had no effects on trade. By exploiting fine product-level information on trade war tariffs, this paper demonstrates how the trade war diminished China's exports to the United States in tariff-impeded products, while expanding opportunities for exports from other countries in a fashion that had some systematic characteristics. First, the impact of the trade war tariffs was not immediate, as trade responses took place with a lag. Second, the respons...

The authors explore the impact of crises on the dynamics of trade between partners within regional trade agreements (RTAs) with the aim to determine whether RTAs have a stabilizing effect on foreign trade. RTAs have become one of the main instruments of trade policy in recent decades. It is generally recognized that RTAs do stimulate trade at the time of stability and growth. It is logical to assume that meeting commitments between RTA partners should lead to the preservation of trade flows between them in the event of a crisis. However, this statement requires empirical confirmation. The stud...

The regulatory framework, although growing in bilateral and regional fora, is highly dynamic and remains fragmented, increasing the challenges facing digital trade law.

A rapid review of published articles and species assessments on the IUCN Red List of Threatened Species found reports of extinctions linked, at least in part, to wildlife trade for 511 unique taxa, including 294 reports of global extinctions, 25 extinctions in the wild, and 192 local extinctions.

ABSTRACT This article mainly compares China’s bilateral trade relation with the Association of Southeast Asian Nations (ASEAN) and with the European Union (EU), mainly from the perspective of China. We make the trade relation comparison in terms of trade volume and structure, trade complementarity index and impact factors on bilateral trade flow. We find the following results: (1) China mainly exports high-tech electronic and electrical and medium-tech products to ASEAN, and high-tech electronic and electrical and low-tech manufactures to EU yet imports high-tech electronic and electrical prod...

This paper proposes a three-stage multi-energy sharing strategy for a gas-electricity integrated energy system (IES). It aims to solve the multi-energy imbalance problem among energy hubs (EHs) based on the peer-to-peer (P2P) trading mode. First, considering the characteristics of multi-energy coupling and conversion, the quantity of shareable energy is determined for EHs that participate in the P2P trading. Furthermore, EHs conduct multi-bilateral negotiations based on the Raiffa-Kalai-Smorodinsky bargaining solution (RBS) to determine the optimal energy trading price. Finally, the buyer agen...

We propose a new market design for trading financial assets. The design combines three elements: (1) orders are downward-sloping linear demand curves with quantities expressed as flows; (2) markets clear in discrete time using uniform-price batch auctions; (3) traders may submit orders for portfolios of assets, expressed as arbitrary linear combinations with positive and negative weights. Thus, relative to the status quo design: time is discrete instead of continuous, prices and quantities are continuous instead of discrete, and traders can directly trade arbitrary portfolios. Clearing prices an...

Can trade agreements motivate environmental conservation? I ...rst present a model whereby the government in the South expands its production capacity (e.g., deforest) before trading with the North. After deriving negative relationships between tari¤ reductions and conservation, I show how all negative results are reversed if countries can negotiate a contingent trade agreement (CTA), where default tari¤s vary with changes in the production capacity (or forest cover). A calibration suggests that growth and liberalization can cause Brazil’s agricultural area to expand by 27%, but this expansion...

The global spread of the digital revolution and the need to manage the climate have radically altered the international trade landscape and have rendered the architecture of the World Trade Organization ill-equipped to address emerging regulatory challenges posed by cross-border flows of digital products and by carbon emissions embodied in traded goods and services. This essay reviews the set of papers published in this issue of the Oxford Review of Economic Policy that assess the regulatory challenges presented by these two ‘new frontiers’ of trade and evaluate alternative national and supr...

Abstract Failure to reestablish an effective World Trade Organization (WTO) dispute settlement procedure, stop the erosion of multilateral rules and end the China–US trade war causes capitals to rethink trade policy. One response is to redouble efforts to strike trade agreements with major trading partners. Already countries accounting for about 78% of world Gross Domestic Product (GDP) are members of mega-regional agreements, and based on our computations, preferential trade agreements (PTAs) will soon cover about two-thirds of world trade. Can PTAs replace a fading WTO or mitigate its effect...

The approach can act as a whistleblower that identifies scam tokens at their early stages based on a guilt-by-association heuristic and a machine-learning powered technique and suggests the urgency to identify and stop scams in the decentralized finance ecosystem.

This study investigates whether the trading range breakout technical trading rule can be applied in exchange-traded funds. Using the samples of crude oil exchange-traded funds, namely USO, USL, UCO, and DBO, that track West Texas intermediate (WTI), the results indicate that the trading range breakout technical trading rule outperforms the benchmark buy-and-hold strategy. In addition, a volatility-based trading range breakout technical trading rule is proposed to enhance trading performance. The results suggest that the proposed TGARCH-MA can be used as a technical trading rule to assist inves...

-

Politicians frequently issue public threats to manipulate tariffs but only sometimes follow through. This behavior theoretically ought to generate audience costs. We therefore test the validity of audience costs in trade war settings through a vignette-based survey experiment. The vignettes describe a hypothetical situation involving the U.S. and a second country (China, Canada, or unspecified) with whom the U.S. has a trade deficit. The president (Democrat, Republican, or unspecified) either maintains the status quo, threatens to impose tariffs and backs down, or threatens to impose tariffs a...

International trade in goods requires service inputs such as transport, banking and financial services for production and transportation. Trade in goods and services are now closely linked and contribute to the growth of international trade. The goal of this study is to investigate the effects of restrictions in the banking, accounting, transportation and logistics sectors (cargo handling and custom brokerage) on food trade. We use a gravity model with panel data from 2014 to 2018 for 36 OECD countries, the OECD indices of individual country restrictions and regulatory difference by coun...

This study scrutinizes the intricate relationship between production technology advancements and price reactions in the Robusta and Arabica commodities and their collective influence on profitability exploring   the relationship between market and policy dynamics and the coffee industry in Indonesia. This study delves into the intricate interplay between market dynamics, policy interventions and technological advancements within the Robusta and Arabica coffee commodities in Indonesia.  It employs a historical simulation to scrutinize the multifaceted relationship between production technology ...

Trade sanctions are a common instrument of diplomatic retaliation. To guide current and future policy, we ask: What is the most cost-efficient way to impose trade sanctions against Russia? To answer this question, we build a quantitative model of international trade with input-output connections. Sanctioning countries simultaneously choose import tariffs to maximize their income and to minimize Russia’s income, with different weights placed on these objectives. We find, first, that for countries with a small willingness to pay for sanctions against Russia, the most cost-efficient sanction is a...

Two central insights from the Schumpeterian approach to innovation and growth are that the pace of innovation is endogenously determined by the expectation of future profits and that growth is inherently a process of creative destruction. As international trade is a key determinant of firm profitability and survival, it is natural to expect it to play a key role in shaping both incentives to innovate and the rate of creative destruction. In this paper, we review the theoretical and empirical literature on trade and innovation. We highlight four key mechanisms through which international trade ...

In recent years, deep trade agreements have spread around the world and gone beyond tariff reductions. We aim to test whether the depth of agreements fosters trade in services. To do so, we use a structural gravity‐type model and build new indicators of the depth of agreements based on the number of articles that are legally enforceable and that are related to trade in services. We show that, while only the deepest trade agreements raise trade in services, the quality of institution determines how deep agreements affect both the intensive (measured by the quantity of trade) and extensive margi...

: We analyse the likely trade effects of the Trade and Cooperation Agreement (TCA), which defines the post-Brexit trading environment between the United Kingdom (UK) and the European Union (EU). We apply a computable general equilibrium model and focus on trade in value added rather than just the gross values of exports and imports. We describe the TCA and estimate its effects on the costs of conducting UK–EU trade, including various non-tariff barriers in both goods and services. We suggest that the TCA will reduce UK trade significantly: total exports by around 7 per cent and imports by arou...

International trade and natural resource exploitation interact in multiple ways. This paper first presents a dynamic game in which the South (S) exploits (e.g., deforests) in order to export (e.g., lumber and agricultural products). Because of negative externalities, the North might lose from trade, unless the resource has already been depleted. Anticipating this, S exploits faster. All negative results are reversed if renegotiation-proof tariffs can be contingent on the size of the remaining resource stock. Larger gains from trade, and more attractive terms of trade, can be used to slow explo...

A folded locoregional flap is a good alternative for reconstruction of a full-thickness alar defect and has an excellent blood supply that makes it suitable for reconstructive surgery.

Fractional trading (FT)—the ability to trade less than a whole share—removes barriers to high-priced stocks and facilitates entry by capital-constrained retail investors. We observe a surge of tiny trades, measured using off-exchange one-share trades, among high-priced stocks compared to low-priced stocks after FT is introduced to the U.S. equity markets. These tiny trades, when coordinated during attention-grabbing events, are forceful enough to exert large price pressure on high-priced stocks. Further evidence suggests that FT can even fuel meme-stock-like trading frenzies and bubbles in h...

Abstract Economic theory suggests including domestic trade flows when estimating structural gravity models. The inclusion of domestic trade flows helps to identify parameters that cannot be estimated with international trade flows alone. The complication is that domestic trade flows can be measured empirically in different ways. Does it matter which one is used? We compare the three most common approaches to measuring domestic trade and show that they lead to very similar estimates of the parameters that are usually estimated within a structural gravity framework.

It is proved that the equilibrium trading speed and the value function of an agent in the finite $N$-player game converges to the corresponding tradingspeed and value function in the mean field game at rate $O(N^{-2})$.

The mushrooming of trade agreements and their interlinkages with environmental governance calls for new research on the trade and environment interface. The more than 700 existing preferential trade agreements (PTAs) include ever more diverse and far-reaching environmental provisions. While missed opportunities remain and harmful provisions persist, numerous environmental provisions in PTAs entail promising potential. They promote the implementation of environmental treaties and cover numerous environmental issues. New concepts, data, and methods, including detailed content analysis across mul...

One of the ways to reduce international trade barriers is through the Free Trade Area (FTA). Collectively, ASEAN already has five FTAs with trading partners outside Southeast Asia. This study intends to analyze the effect of free trade agreements between ASEAN and China, South Korea, Japan, India, and Australia – New Zealand (ASEAN+5 FTA). The implications of an FTA are explained using the concepts of trade creation and trade diversion through economic integration. The trade gravity model is expanded with three dummy variables to determine whether trade creation and trade diversion occur in th...

of natural disasters. A range of measures can be taken under the current WTO Agreements that can help impacted countries and their trading partners to mitigate the effects of natural disasters in the context of a three-phased approach – immediate response, recovery and resilience. Findings from “Natural Disasters and Trade: Study I” suggest that “there is significant potential to advance actions that will support preparedness in the face of specific, known hazards”, and that the negative impacts of natural disasters can be mitigated through effective trade-related measures under the multilater...

This chapter tests empirically to what extent technological innovation influences international trade and studies its effect on different groups of countries according to their level of economic development. Different measures used in the literature to proxy for technological capabilities are reviewed and two of them are selected. The estimation results show that technological innovation has a considerably high explanatory power on trade compared with other traditional determinants. Countries tend to trade more when they have similar technological capabilities and the development of technologi...

It is argued that trade policy-makers must pay closer attention to users’ concerns if they truly want to achieve ‘ data free flow with trust’ and trade agreements should build trust in cross-border data flows.

Abstract The main aim of the study was to assess the impact of Economic Partnership Agreement (EPA) and Southern African Development Community Free Trade Area (SADC-FTA) on Zimbabwe’s agricultural trade flows. Results highlight that Zimbabwe’s membership in EPA initiated in 2012, enhanced the country’s agricultural trade flows by 307.96%. Membership in SADC-FTA initiated in 2008 has enhanced the country’s agricultural trade flows by 437.09%. Other independent variables including exchange rates and GDP negatively impacted the country’s agricultural trade flows. From the empirical findings, it i...

PurposeSocial trading platforms are considered to be amongst the major innovations in online trading. The purpose of this article is to analyze the trading activity of traders on social trading networks by taking a behavioral approach. Additionally, the authors investigate the factors that influence the irrational part of trading activity derived from the key characteristics of these platforms, i.e. those dealing with social interaction.Design/methodology/approachThe investigation utilizes an extensive set of trading data from two major platforms in Germany to study the trading behavior. The a...

Abstract Problem, research strategy, and findings A growing number of planning researchers and practitioners argue for a shift from mobility-centered transportation planning to an accessibility-focused one. Accessibility is a compelling concept that has proven more difficult to operationalize than mobility, which helps to explain why so many accessibility metrics have been developed for urban research and planning practice. To assess the state of these metrics, we reviewed 54 of them in light of their theoretical basis, data requirements, units of analysis, travel modes and trip purposes accou...