International trade increases aggregate welfare but also creates winners and losers, which makes free trade a contentious political issue. Recent research has established that individuals are more sensitive to anti-trade information about the prospect of employment loss than to pro-trade...

How does dismantling deep integration affect international trade? This paper provides new evidence on the consequences of disintegration by estimating the impact of Brexit on goods trade by UK firms. The UK’s exit from the EU’s single market and customs union in January 2021 led to an...