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.
China’s pure exporter subsidies: Protectionism by exporting
Fabrice Defever, Alejandro Riaño, 4 January 2013
Global imbalances: What role for the WTO?
Juan A. Marchetti, Michele Ruta, Robert Teh, 2 January 2013
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.
Can trade policy set information free?
Susan Ariel Aaronson, 22 December 2012
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).
Value-added exchange rates
Rudolfs Bems, Robert Johnson, 6 December 2012
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.
Why does finance matter for trade? Evidence from new data
Marc Auboin, Martina Engemann, 3 December 2012
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).
Firm organisation: What we know and why we should care
Laura Alfaro, Paola Conconi, Harald Fadinger, Patrick Legros, Andrew Newman, 2 December 2012
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.
Sparking off the magic of diasporas
Alireza Naghavi, Chiara Strozzi, 18 November 2012
In a keynote address at the second annual Global Diaspora Forum in Washington, DC, this summer, Hillary Clinton, the US Secretary of State, said she believes that diaspora communities could help solve problems back in their home countries: “By tapping into the experiences, the energy, the expertise of diaspora communities, we can reverse the so-called ‘brain drain’ that slows
Can the EU mobilise resources for peace in its neighbourhood?
Thorvaldur Gylfason, Per Magnus Wijkman, 4 November 2012
Since its formation more than 60 years ago, the EU has played a major role in post-war reconciliation and reconstruction1. Ever-closer economic integration, supported by common institutions, has been the EU’s means to preventing conflicts among democratic European states.
Africa gets hit by Eurozone crisis
Monica Eaton, Michael J Ferrantino, 4 September 2012
There is currently an asymmetric contraction in merchandise trade focused on Europe. Data from CPB World Trade Monitor show real Eurozone imports declining by 7.7% in the 12 months ending May 2012, at a time when real world trade has expanded by 3.0%.
Trade and inequality: From theory to estimation
Oleg Itskhoki, Marc Muendler, Stephen Redding, Elhanan Helpman, 20 May 2012
Until recently, research on the labour market effects of international trade has been heavily influenced by traditional theories such as the Heckscher-Ohlin and Specific Factors models. Those theories provide predictions about relative wages across skill groups or across occupations and sectors.
- Secular stagnation: Facts, causes, and cures – a new Vox eBookTeulings, Baldwin
- Can large primary surpluses solve Europe’s debt problem?Eichengreen, Panizza
- The unrecognised benefits of grade inflationBoleslavsky, Cotton
- The US manufacturing base is surprisingly strongMoran, Oldenski
- Risk attitudes are context-specificLoomes, Pogrebna
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
CEPR Policy Research
- The buyer margins of firms' exportsCarballo, Ottaviano, Volpe
- Commodity and Equity Markets: Some Stylized Facts from a Copula ApproachDelatte, Lopez
- Ethnic Unemployment Rates and Frictional MarketsGobillon, Rupert, Wasmer
- Finance and Poverty: Evidence from IndiaAyyagari, Beck, Hoseini
- The Manipulation of Basel Risk-WeightsMariathasan, Merrouche
- The economics of Scottish independence in an interdependent worldHughes Hallett
- Making city lights shine brighterYusuf, Leipziger
- The euro in the 'currency war'Bénassy-Quéré, Martin
- The roots of shadow bankingPerotti
- What’s wrong with Europe?Baldini, Manasse
- Corporate Finance Theory Symposium19 - 20 September 2014 / Cambridge / Judge Business School, Cambridge University
- International Trade, Finance, and Macroeconomics: Research Frontiers and Challenges for Policy18 - 19 December 2014 / The Bank of England, London / The Bank of England, Centre for Macroeconomics and CEPR