International trade

Jan I. Haaland, Ian Wooton, 14 May 2021

The changes in the UK’s trading relationship with the EU are likely to have widespread effects, many of which are yet to be understood in full. This column introduces the issue of compliance with rules of origin requirements within free trade agreements. The authors argue that complying with these rules can present firms with additional production costs that would not have been present had the UK remained a part of the EU.

Bruno Conte, Klaus Desmet, Dávid Krisztián Nagy, Esteban Rossi-Hansberg, 04 May 2021

Trade restrictions are often invoked as a way to stem climate change. Although international transportation is an important source of carbon emissions, this view is incomplete. Using a dynamic spatial growth model, this column argues that trade can be a powerful mechanism to adapt to rising temperatures. The interaction of climate change, productivity, and migration decisions gives rise to significant global changes in populations and sectoral specialisations. On aggregate, rising temperatures are predicted to lower real GDP per capita by 6% and welfare by 15% by the year 2200. 

Wolf-Fabian Hungerland, Nikolaus Wolf, 02 May 2021

The history of globalisation is usually told in two parts, separated not only by two world wars but also by changes in technology, institutions, and economic logic. This column reconsiders that narrative. Using detailed new evidence on Germany’s foreign trading practices from 1800 to 1913 (the ‘first’ globalisation), it finds that most growth took place along the extensive margin, while 25–30% of trade was intra-industry. If the first globalisation saw substantial heterogeneity within countries and industries, it may be time to re-think the ‘classical’ versus ‘new’ trade paradigm. 

Chad Bown, 30 April 2021

If you had trouble in the last four years keeping up with what was happening in the trade war, you're not alone. Chad Bown tell Tim Phillips about his new paper that explains what happened, when, what it meant - and what happens next.

Petros C. Mavroidis, André Sapir, 30 April 2021

The ability of the WTO to shape the way China conducts its trade policy has been severely limited, and most attempts to leverage multilateral pressure have so far failed. This third in a series of three columns explores how the relationship could be reformed and improved going forward. The authors highlight the need for clearer guidelines on state-owned enterprises, as well as new rules surrounding the transfer of technology between signatories.

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