This paper aims to overview the recent body of empirical work on the importance of Global Value Chains (GVCs) in international production and trade. We begin by reviewing different approaches and levels of GVC analysis. We then consider developments in methods and data. Focusing on the...

No matter its source, financial- or policy-related, uncertainty can feed onto itself, concealing its true origin and leading to identification challenges in empirical applications. We add to the existing stock of analytical methods able to disentangle among various types of uncertainty shocks,...

We estimate the short-run effects of severe weather shocks on local economic activity and assess cross-border spillovers operating through economic linkages between U.S. states. We measure weather shocks using a detailed county-level database on emergency declarations triggered by natural...