Prof. Tibor Besedes presented his paper "Trade Integration and the Fragility of Trade Relationships" at Southern Methodist University on August 29 and Texas Christian University on August 30. The paper examines the effect international trade agreements on the stability of trade at the product level. While trade agreements increase overall trade, the paper shows that trade agreements induce a large number of new trade activity which is small valued and short lasting. On the other hand, trade agreements prolong and increase trade activity which began before a trade agreement is signed. The paper is available here.