How do shifts in the global balance of power shape the world economy? We propose a theory of alignment-based “hegemonic globalization,” built on two central premises: countries differ in their preferences over policies (such as the rule of law or regulatory frameworks) and trade between any...

We propose new ways to measure populism, using the Manifesto Project Database (1960- 2019) as main source of data. We characterize the evolution of populism over 60 years and show empirically that it is significantly impacted by the skill-content of globalization. Specifically, imports of goods...

We use a dynamic spatial general equilibrium model of international investment and production to investigate the real implications of the last five decades of financial globalization. We introduce a wedge accounting framework to estimate country- and time-varying measures of outward and inward...

We use a dynamic spatial general equilibrium model of international investment and production to in vestigate the real implications of the last five decades of financial globalization. We introduce a wedge accounting framework to estimate country- and time-varying measures of outward and inward...

Kuznets predicts an economy's return to low inequality once structural transformation has peaked. I explore some headwinds to falling inequality in developing countries given their thorough engagement in the globalized market Kuznets could not have foreseen. Headwinds include plutocrats' abuse...

Since the onset of globalization, production activities have become increasingly fragmented and organized in global value chains, facilitating the trade of intermediaries across industries and countries. In this paper, we analyze the dynamic effect of increasing participation in global value...

This literature review connects trade and capital flows to (de)globalization, considering the main theoretical channels and empirical references to assess the current debate. The aim is to offer an integrated reference framework to study such a multifaceted global phenomenon. First, I...