The recent media and political attention on service outsourcing from developed to developing countries gives the impression that outsourcing is exploding. As a result, workers in industrial countries are anxious about job losses. This Paper aims to establish what are the hypes and what are the...

Using product-level data on exports from different cities within China, this paper investigates the contributing factors to the rising export sophistication. [WP no. 226].

We match Big Mac prices with prices of its ingredients as a unique prism to study real exchange rates (RERs). This approach has several advantages. First, the "levels" of the Big Mac RER can be measured meaningfully. Second, as the "exact" composition of a Big Mac is known, the contributions of...