Hylke Vandenbussche, William Connell, Wouter Simons, 27 November 2017

Global value networks make it difficult to evaluate the trade impact of Brexit. Using a new model of trade that accounts for the indirect effect of these networks, this column delivers fresh bad news for the UK, and for the rest of Europe. Brexit cuts GDP more, and costs more jobs, if we also consider global value chains. A hard Brexit would destroy four times as much GDP, and four times as many jobs throughout Europe, as a soft Brexit.

Natalie Chen, Dennis Novy, 27 January 2009

This column assesses trade costs for manufacturing industries in the EU. It demonstrates that, although tariffs on trade within the EU were abolished decades ago, significant barriers remain, and countries continue to integrate. Today, the most substantial policy-induced costs are technical barriers to trade, such as packaging and labelling requirements.

Robert Dekle, Jonathan Eaton, Samuel Kortum, 27 August 2008

A correction of international imbalances seems inevitable. What will that entail? This column presents estimates of the changes in trade flows required to rebalance the world’s current accounts and analyses which countries will bear the burdens of adjustment.