China’s accession to the WTO increased pollution via coal powerplants, not exporters or their suppliers and consumers
As countries consider trade deals to foster development, the question of how trade impacts pollution keeps resurfacing. This column examines how China’s rapid entry into
The impact of global versus regional energy shocks on the EU
Not all energy shocks are alike. This column uses a multi-country, multi-sector DSGE model with production networks and trade linkages to compare a Europe-centric regional
When travel restrictions became trade frictions: Evidence from Covid-era border closures
Covid travel restrictions limited movement of people but also made cross-border goods trade more difficult. This column uses a structural gravity model on global trade
The design and effect of tariff retaliation: Evidence from the EU
As global trade policy becomes increasingly protectionist, the threat of tariff retaliation looms large. This column analyses how the EU’s 2018 response to US steel
Global trade linkages and the cross-country distribution of the gains from AI
Productivity gains from AI are expected to be significant, but how international trade shapes the cross-country distribution of these gains remains an open question. This
South Asia opens up: How trade reforms impact households and sectors
Over the next decade, about 280 million people will come of working age in South Asia. The region needs a robust growth engine to create jobs
Big cities and globalisation
Globalisation has deepened economic inequalities between large cities and the rest. This column examines foreign trade integration in larger cities versus other regions across Brazil,
The narrowing path: Trade and development in a new era
For decades, international trade has been a powerful engine of development. Countries like South Korea and China achieved remarkable transformations – moving from low-income agricultural
The economic value nations create for others relative to domestic gains
True economic power lies not only in what a country gains from trade, but also in how much it contributes to the prosperity of others.
Dollar dominance and the Trump administration
There is general agreement that a currency’s safe-haven status can be gauged by its response to changes in financial volatility. This column documents how, in
