Felbermayr, Gabriel; Mahlkow, Hendrik; Sandkamp, Alexander - In: Empirica 50 (2023) 1, pp. 75-108
With ever-increasing political tensions between China and Russia on one side and the EU and the US on the other, it only seems a matter of time until protectionist policies cause a decoupling of global value chains. This paper uses a computable general equilibrium trade model calibrated with the...