In simpler days, exports meant goods made in one nation being sold in another. Boosting exports meant boosting employment and value added in the export sector. Things are more complicated due to the emergence of global supply chains.
How much value added is traded?
Robert Johnson, Guillermo Noguera, 22 July 2012
Global value chains, trade, jobs, and environment: The new WIOD database
Hubert Escaith, Marcel Timmer, 13 May 2012
International fragmentation of production has become increasingly prominent since the 1990s and trade in final goods is increasingly replaced by trade in tasks. This challenges many economic convictions in development economics, from the neoclassical understanding of gradual convergence to the structuralist models of North-South dependence and industrialisation through import substitution.
The impact of dark trading and visible fragmentation on market quality
Hans Degryse, Frank de Jong, Vincent van Kervel, 24 November 2011
Stock markets are back in the news. The on-going falls have drawn comparisons with 2008, catching the attention of the media, politicians, and the wider public. They have also caught the eye of economists, who appreciate how much we still don’t know about how stock markets behave. Research in this area is as relevant now as it has ever been.
- Fiscal consolidation: At what speed?Blanchard, Leigh
- Escaping liquidity traps: Lessons from the UK’s 1930s escapeCrafts
- The lessons of the North Atlantic crisis for economic theory and policyStiglitz
- Helicopter money as a policy optionReichlin, Turner, Woodford
- Rethinking macroeconomic policyBlanchard
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Reichlin, Baldwin, 14 April 2013
Reichlin, Turner, Woodford