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Financial Frictions, Trade, and Misallocation
We investigate the extent to which financial frictions shape the aggregate effects of a trade liberalization through their impact on aggregate total factor productivity (TFP) and capital misallocation. We study a small ...
Trade Integration in Colombia: A Dynamic General Equilibrium Study with New Exporter Dynamics
We study Colombia’s trade integration over a 30 year period through the lens of GE model in which non-exporters have access to a risky exporting technology and exporters must invest in accumulating a better exporting ...