US votes on trade and migration

Paola Conconi, Giovanni Facchini, Max Friedrich Steinhardt, Maurizio Zanardi 07 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. In reaction, the Republican House Leader announced that he was ready for a “comprehensive approach” to immigration reform and that he was confident that Congress and President Obama could find “common ground to take care of this issue once and for all” (The New York Times, 2012).

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Topics:  International trade Labour markets Migration

Tags:  US, trade, migration, skilled labour, unskilled labour

China’s pure exporter subsidies: Protectionism by exporting

Fabrice Defever, Alejandro Riaño 04 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. The EU joined the consultations shortly after on 28 September.

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Topics:  International trade

Tags:  China, WTO, trade, welfare

Global imbalances: What role for the WTO?

Juan A. Marchetti, Michele Ruta, Robert Teh 02 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. Saudi Arabia) and the ‘core’ Eurozone countries (e.g. Germany). The US and the Eurozone periphery countries had large and persistent deficits. While imbalances contracted after the crisis, they remained large both in absolute terms and in relation to GDP.

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Topics:  International trade

Tags:  WTO, trade, liberalisation, current account imbalances

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). Almost every country has adopted policies to protect privacy, enforce intellectual property rights, protect national security, or thwart cyber-theft, hacking, and spam.

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Topics:  Frontiers of economic research International trade

Tags:  globalisation, trade, technology, internet

Value-added exchange rates

Rudolfs Bems, Robert Johnson 06 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.

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Topics:  Competition policy Global economy International trade

Tags:  competitiveness, Germany, global imbalances, China, globalisation, trade, supply chains, iPhone

Why does finance matter for trade? Evidence from new data

Marc Auboin, Martina Engemann 03 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).

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Topics:  International trade

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

Firm organisation: What we know and why we should care

Laura Alfaro, Paola Conconi, Harald Fadinger, Patrick Legros, Andrew Newman 02 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. Enron, Worldcom); for plane crashes in the US, lead-painted toys from China1, and, most devastatingly of all, the global crisis. These outcomes are increasingly ascribed to unaccountable managers, misaligned ownership structures, outsourcing and other internal organisation issues.

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Topics:  Industrial organisation International trade

Tags:  trade, protectionism, firms, firm organisation

Sparking off the magic of diasporas

Alireza Naghavi, Chiara Strozzi 18 November 2012

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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 progress in so many countries around the world, and instead offer the benefits of the ‘brain gain’”.

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Topics:  Global economy International trade Migration

Tags:  immigration, trade, emigration, IPR, diasporas

Can the EU mobilise resources for peace in its neighbourhood?

Thorvaldur Gylfason, Per Magnus Wijkman 04 November 2012

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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.

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Topics:  Development EU policies Europe's nations and regions Politics and economics

Tags:  EU, trade, Conflict, Balkans, Middle East, North Africa, MENA

Africa gets hit by Eurozone crisis

Monica Eaton, Michael J Ferrantino 04 September 2012

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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%. Moreover, the contraction is already nearly half as large as the greatest year-on-year contraction of Eurozone imports in the Great Trade Collapse (18.2% for the period ending April 2009). Africa and the Middle East are more connected to Europe than are other regions, and contain a number of small, trade-exposed economies.

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Topics:  Development Europe's nations and regions International trade

Tags:  Africa, trade, Eurozone crisis

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