A Gains from Trade Perspective on Macroeconomic Fluctuations
---- Acknowledgements -----
The authors thank Florin Bilbiie, Russ Cooper, Wouter Den Hann and Henry Siu for discussions as well as participants in the various seminars where this work was presented. The authors would also like to thank Matias Cortes and Dana Galizia for research assistance. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.