Robert C. Feenstra

TL;DR: In this article, a theory of rational choice under uncertainty for decision-makers whose preferences are exhaustively described by partial orders representing ''limited information'' is presented. But the main result characterizes axiomatically a new choice-rule called ''simultaneous expected utility maximization'' which in particular satisfies a choice-functional independence and a context-dependent choice-consistency condition; it can be interpreted as the fair agreement in a bargaining game (Kalai-Smorodinsky solution) whose players correspond to the different possible states (respectively extermal priors

TL;DR: This paper examined Hong Kong's role in intermediating trade between China and the rest of the world and found that re-exports of Chinese goods are much more expensive when they leave Hong Kong than when they enter.

TL;DR: In this article, the authors generate persistent real effects of monetary disturbance in the context of staggered price setters by combining two related and reinforcing features: a translog demand structure and a particular input-output production structure.

TL;DR: In this article, the authors show that trade in goods can lead to a divergence of growth rates, and they also explore how these results are affected by trade in intermediate inputs or by multinational corporations, which may facilitate the diffusion of knowledge.

TL;DR: Direct investment has accounted for about a quarter of total international capital outflows in the 1990s and appears to have grown, relative to other forms of international investment, since the 1970s as discussed by the authors.