Xiaodong Liu, Eleonora Patacchini, Edoardo Rainone, Tuesday, January 28, 2014

Sleep is a key determinant of educational attainment among young adults, and carries with it longstanding health implications. This column provides evidence of network effects in adolescent sleeping decisions using a novel econometric approach. Young adults respond to the sleeping behaviour of their peer group, holding constant other observables. This compounding effect suggests a group approach to solving behavioural problems associated with sleep deprivation.

Richard Baldwin, Monday, January 20, 2014

The global value chain revolution has changed trade and trade agreements. Trade now matters for making goods as well as selling them. Trade governance has shifted away from the WTO towards megaregional agreements. This column argues that 21st-century regionalism is not fundamentally about discrimination, and that its benefits and costs are best thought of as network externalities and harmonisation costs respectively. More research is needed to determine how the megaregional trade agreements across the Pacific and Atlantic will fit with the WTO.

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