Container ships travel between a fixed set of origins and destinations in round trips, inducing
a negative correlation in their freight rates. I study the implications of this round trip effect on …

In international trade, transportation requires a round trip for which a transport firm has to
commit to shipping capacity that is sufficient to meet the maximum shipping volume. This …

We propose a new welfare effect of trade surplus. Guided by insight from several fields in
economics, we provide evidence that an increase in a country's trade surplus alters the unit …

This paper discusses how international trade is organized from export to trans-boundary
transport to import. All evidence suggests that the transport sector is independent, may …

According to the existing open-economy macroeconomics literature, a current account
surplus is associated with a welfare loss only when distortions exist in either savings or …

Recognizing that trade imbalance can generate a difference in the unit shipping cost, we
show that countries with a large trade surplus (deficit) tend to systematically import (export) …

According to the existing open-economy macroeconomics literature, a current account
surplus is associated with a welfare loss only when distortions exist in either savings or …

The current account surplus is associated with a welfare loss, according to the standard
open-economy macroeconomics, only if there are financial distortions. We argue that even …

Trade imbalance affects the composition of trade by altering unit shipping costs. We show
that countries with a larger trade surplus systematically import more heavy goods. We …

This dissertation considers the interconnections between trade and transportation. Through
various theoretical and empirical analyses, I provide novel evidence of the simultaneity of …