Trade
Global Supply Chain Disruptions: A Webinar With Penny Goldberg, Former Chief Economist of the World Bank
Princeton professor Markus Brunnermeier and Yale professor Penny Goldberg, former chief economist of the World Bank, discuss the impact of Covid-19 on international trade and...
Governments and Central Banks Have a Few Unpleasant Options to Stop the Economic Contagion
The global economy and financial markets are seriously hit by the coronavirus outbreak. Central banks can do something, but monetary policy is not enough. A fiscal stimulus might mitigate the impact, but the record-level outstanding amount of public and private debt adds additional risk to the current perfect storm.
With the US and China, Two Types of Capitalism Are Competing With Each Other
Capitalism’s global victory has been achieved through two different types of capitalist systems: the liberal meritocratic capitalism that has developed incrementally in the West,...
How Offshoring by Multinational Corporations Contributed to the Decline of US Manufacturing
The offshoring activities of multinational firms explain about one-third of the aggregate decline in US manufacturing employment, according to a new study.
Between 1990 and...
The Real “China Shock”: Political Fallout from Slowing Exports in China
As China’s export growth has slowed down over the past five years, workers have responded by taking to the streets with increasing frequency. The...
Schumpeter and Brexit: Same Old Story, Different Ending
Joseph Schumpeter wouldn’t have been surprised by Brexit, but would blame British elites for putting it to a referendum and then walking away from the...
The Costs of Trump’s Import Tariffs Have Landed Entirely on US Citizens
US importers and consumers experienced $12.3 billion in added tax costs and another $6.9 billion from unrecoverable reductions in welfare arising from the 2018...
What Comes After Trickle-Down Trade Liberalization?
The United States needs to rethink its trade policy. A new report offers a blueprint, consisting of ten major reforms.
US trade policy is at...
The Malleable Demand for Trade Protection: How Political Campaigns Can Easily Manipulate Public Attitudes Toward Public Policy
Where does today’s anti-trade sentiment come from? A new study finds that people are particularly sensitive to job losses and outsourcing due to international...
The Inequality Paradox: Rising Inequalities Nationally, Diminishing Inequality Worldwide
Workers in emerging economies benefitted from globalization and workers in rich countries, on balance, did not. Overturning globalization, however, will neither work nor bring...
