Fears of job losses and of increasing inequality loom large in current debates on how globalization is affecting our economies. By fundamentally changing the organization of production and work, globalization creates complex and changing patterns of winners and losers. Globalization thus creates...

People passionately disagree about the nature of the globalization process. The failure of both the 1999 and 2003 World Trade Organization's (WTO) ministerial conferences in Seattle and Cancun, respectively, have highlighted the tensions among official, international organizations like the WTO,...

Vor 200 Jahren hat einer der Gründungsväter der modernen Volkswirtschaftslehre, David Ricardo, in seinem Buch Principles of Political Economy and Taxation die Theorie der komparativen Vorteile vorgestellt. Vom Abbau von Handelsbarrieren profitieren alle Länder, sogar die, die im Vergleich zu...

Recent disruptions to global value chains (GVCs) have raised an important question: Can decoupling from GVCs increase a country’s welfare by reducing its exposure to foreign supply shocks? We use a quantitative trade model to simulate GVCs decoupling, defined as increased barriers to global...