Preferential trade agreements have become deeper over time, often encompassing policy areas that go beyond traditional trade policy, such as investment, competition, and intellectual property rights protection. In the literature, a prominent argument why countries sign "deep" agreements is to...

Preferential Trade Agreements (PTAs) have become deeper over time, often encompassing a set of disciplines that go beyond traditional trade policy such as investment, competition, and intellectual property rights protection. In the policy and theory literature, a prominent argument why countries...

Preferential trade agreements have become deeper over time, often encompassing policy areas that go beyond traditional trade policy, such as investment, competition, and intellectual property rights protection. In the literature, a prominent argument why countries sign "deep" agreements is to...

Preferential trade agreements today are more numerous and deeper than they were a quarter century ago. Do deep agreements promote countries' integration into global value chains? What are the economic mechanisms? How do countries choose their trade agreement partners? Would the undoing of deep...

This paper studies the trade effects of Covid-19 using monthly disaggregated trade data for 28 countries and multiple trading partners from the beginning of the pandemic to June 2020. Regression results based on a sector-level gravity model show that the negative trade effects induced by...

To understand the longer term consequences of natural disasters for global value chains, this paper examines trade in the automobile and electronic sectors after the 2011 earthquake in Japan. Contrary to widespread expectations, the analysis shows that the shock did not lead to reshoring,...

In the first two months of 2021, the production of COVID-19 vaccines has suffered setbacks delaying the implementation of national inoculation strategies. These delays have revealed the concentration of vaccine manufacture in a small club of producer nations, which in turn has implications for...