The global turn towards the market of the 1980s and 1990s led some to believe that globalization was untethering itself from its political moorings. More recently, however, the combined impact of the China shock, Covid, and war have revealed even to economists what historians and political...

We introduce a new dataset on British exports at the bilateral, commodity-level from 1700 to 1899. We then pit two primary determinants of bilateral trade against one another: the trade-diminishing effects of distance versus the trade-enhancing effects of the British Empire. We find that the...

We present a new global index indicating how fixed the world's exchange rates are. Our index measures the probability of two units of GDP, randomly selected anywhere in the world, of being involved in a fixed exchange rate arrangement. This approach is invariant to alternative classifications of...