Rui Esteves, 15 February 2019

A new data set compiles the history of international finance spanning a century and a half, revealing new information about globalisation, crises and capital flows. Rui Esteves of the Graduate Institute, Geneva, tells Tim Phillips what lessons it offers for policymakers today.

James Harrigan, Ariell Reshef, Farid Toubal, 23 January 2019

Economists have studied the nexus between labour demand, globalisation, and technology adoption for decades, but quantifying the relative importance of these factors is challenging. Using firm-level data from France, this column proposes a new measure of productivity based on the number of workers in technology-related occupations. It finds large effects of importing, ICT, and R&D on the relative demand for skilled workers through their effects on productivity. Interestingly, the demand for both skilled and unskilled workers rises when firms hire ‘techies’ or engage in offshoring.

Bernhard Michel, Caroline Hambÿe, Bart Hertveldt, 21 January 2019

Domestic value creation is shaped by how and to what extent economies integrate into global value chains. This column argues that further insights can be gained by distinguishing export-oriented and domestic market firms in standard indicators of global value chain integration and participation. Using data for Belgium, it documents that export-oriented firms differ from domestic market firms in terms of input structure and import patterns. These two types of firms play different roles in determining the nature of a country’s global value chain participation.

Richard Baldwin, 23 November 2018

, 12 November 2018

Major cities are thriving as the world becomes increasingly interconnected, but many places are also missing out. In this video, David Arnold and Riccardo Crescenzi of LSE and Mara Giua of Roma Tre University give an overview of the LSE's Global Investment – Local Development project, which examines the mistakes that many regions are making and offers solutions on how to move forward.

Costas Arkolakis, Natalia Ramondo, Andres Rodríguez-Clare, Stephen Yeaple, 08 October 2018

One consequence of the last decades of globalisation is that, thanks to multinational firms, goods are increasingly being produced far from where ideas are created. Using general equilibrium modelling, this column analyses the welfare and distributional effects of the recent wave of protectionism. Central to the results is the flexibility that multinational firms have in locating their innovation and production activities around the globe.

Lubos Pastor, Pietro Veronesi, 28 September 2018

The vote for Brexit and the election of protectionist Donald Trump to the US presidency – two momentous markers of the ongoing pushback against globalisation – led some to question the rationality of voters. This column presents a framework that demonstrates how the populist backlash against globalisation is actually a rational voter response when the economy is strong and inequality is high. It highlights the fragility of globalisation in a democratic society that values equality.

Lee Branstetter, Britta Glennon, J. Bradford Jensen, 21 August 2018

US firms have begun shifting R&D investment towards non-traditional destinations such as China, India, and Israel. The column argues that this is a response to a shortage in software and IT-related human capital within the US. When US multinationals are able to import talent or export R&D work, this reinforces US technological leadership. Conversely, politically engineered constraints on this response will undermine the competitiveness of US-based firms.

Brian Nolan, 03 August 2018

The narrative that globalisation and technological change have been the central forces hollowing out the jobs market, squeezing ‘the middle’, driving up inequality, and undermining growth is frequently taken to apply across the rich countries. This column presents a set of country case studies of the US alongside nine other rich countries that highlights just how varied their experiences since the 1980s have actually been.  Country contexts really matter, and policy responses must be framed in light of the institutional point of departure and distinctive challenges each country faces.

S. Amer Ahmed, Maurizio Bussolo, Marcio Cruz, Delfin S. Go, Israel Osorio Rodarte, 11 July 2018

Average education levels are increasing in developing countries, but not in high-income countries. The column argues that this 'education wave' in developing countries will reduce global inequality by 2030, with average incomes up to the 90th percentile all benefitting from the trend. However, this equalising effect relies on continued globalisation.

William Lincoln, Andrew H. McCallum, 10 July 2018

The number of US firms that export increased dramatically over the past few decades. This column argues that while foreign market entry costs have been stable over time, declines in telecommunications costs, free trade agreements, and economic growth abroad have been vital drivers of the globalisation of US firms.

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The Mobility in a Globalised World (MIGW) conference is a scientific and interdisciplinary conference which brings together economics, information technology and engineering. The aim of this year‘s conference is to highlight and discuss the effects of the digital transformation.

Submissions of abstracts (300 to 500 words) are welcome until July 31th, 2018, [email protected]

Acceptance for presentation: August 15th, 2018

Call of papers: http://www.migw.info/2018/call-for-papers-2018.pdf

Contact and further information: www.migw.info or [email protected]

Location 2018: University of Applied Sciences Ruhr-West in Muelheim. Muelheim is part of the Ruhr, the most important industrial region of Germany. Next airport is Duesseldorf.

Nikolaus Wolf, 11 June 2018

Roberto Duncan, Enrique Martínez García, 08 June 2018

Understanding what helps forecast inflation is important for any modern economy, but analysis remains limited in the emerging market economy context. This column presents recent findings on inflation forecasting in such economies, showing that a variant of the simple random walk model specification seems difficult to beat. The strong forecasting performance of this model can be observed even though many emerging economies have adopted a de facto or de jure inflation-targeting regime.

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