Exchange-rate volatility is a problem for trade … especially when financial development is low

Jérôme Héricourt, Sandra Poncet, 19 January 2013

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The increasing volatility of exchange rates after the fall of the Bretton Woods agreements has been a constant source of concern for both policymakers and academics.

Topics: Exchange rates, International trade
Tags: China, exchange-rate volatility, trade

Moving to Greenland in the face of global warming

Klaus Desmet, Esteban Rossi-Hansberg , 16 January 2013

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If populations don’t move, global warming is likely to have disastrous consequences.

Topics: Environment, Migration
Tags: climate change, migration, trade

Africa can help feed Africa: Removing barriers to regional trade in food staples

Paul Brenton, 8 January 2013

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Africa is not achieving its potential in food trade.

Growing demand for food in Africa is increasingly being met by imports from the global market. This, coupled with rising global food prices, is leading to ever mounting food import bills. Clearly something has to change. Business as usual with regard to food staples in Africa is not sustainable.

Topics: International trade
Tags: Africa, food, trade

US votes on trade and migration

Paola Conconi, Giovanni Facchini, Max Friedrich Steinhardt, Maurizio Zanardi, 7 January 2013

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In the recent US presidential election, Latino voters rewarded President Obama and punished Republicans for their positions on immigration.

Topics: International trade, Labour markets, Migration
Tags: migration, skilled labour, trade, unskilled labour, US

China’s pure exporter subsidies: Protectionism by exporting

Fabrice Defever, Alejandro Riaño, 4 January 2013

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On 17 September last year, the US requested consultations with China concerning a wide range of export-contingent measures – grants, tax preferences and interest-rate subsidies, totalling at least $1 billion – in apparent violation of the WTO’s Agreement on Subsidies and Countervailing Measures, China’s accession protocol and article XVI of the GATT.

Topics: International trade
Tags: China, trade, welfare, WTO

Global imbalances: What role for the WTO?

Juan A. Marchetti, Michele Ruta, Robert Teh, 2 January 2013

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The world witnessed a large build-up of current account and merchandise trade imbalances, both in absolute and relative terms, prior to the global financial and economic crisis (see Table 1 and Figure 1). Current account/merchandise trade surpluses were most pronounced among the East Asian economies (e.g. China), oil exporters (e.g.

Topics: International trade
Tags: current account imbalances, liberalisation, trade, WTO

Can trade policy set information free?

Susan Ariel Aaronson, 22 December 2012

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 Although the internet is creating a virtuous circle of expanding global growth, opportunity, and information flows (Lendle et al. 2012), policymakers and market actors are taking steps that undermine access to information, reduce freedom of expression and splinter the internet (Herald 2012).

Topics: Frontiers of economic research, International trade
Tags: globalisation, internet, technology, trade

Value-added exchange rates

Rudolfs Bems, Robert Johnson, 6 December 2012

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Real effective exchange rates (REERs) are widely used to gauge competitiveness. Yet conventional REERs, based on gross trade flows and consumer price indexes (CPIs), are not well suited to that role when imports are used to produce exports – i.e., with vertical specialisation in trade.

Topics: Competition policy, Global economy, International trade
Tags: China, competitiveness, Germany, global imbalances, globalisation, iPhone, supply chains, trade

Why does finance matter for trade? Evidence from new data

Marc Auboin, Martina Engemann, 3 December 2012

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Academic interest in the role of trade finance has grown in the context of the financial crisis of 2008-09 and the subsequent economic downturn, just as policymakers’ interest was once caught by the Asian financial crisis (IMF 2003).

Topics: International trade
Tags: financial crisis, Great Recession, international trade, trade, trade credit, Trade finance, trade insurance

Firm organisation: What we know and why we should care

Laura Alfaro, Paola Conconi, Harald Fadinger, Patrick Legros, Andrew Newman, 2 December 2012

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A series of corporate calamities in the 2000s has helped to arouse suspicion amongst policymakers and the public that corporate organisation matters. Internal organisation issues are blamed for lost jobs, lost pensions and lost fortunes (e.g.

Topics: Industrial organisation, International trade
Tags: firm organisation, firms, protectionism, trade

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