Italy: Willingness to Reform Is the Issue, Not the Referendum

Italy: Willingness to Reform Is the Issue, Not the Referendum

Source Key takeaway – Italy’s prospects are lacklustre and growth is stagnant. The political system is focused on privilege preservation, fostering populist feelings. Reforms are needed but – due to a reluctant electorate and a cumbersome legislative process – are difficult to implement. Over the past three years, Renzi’s government announced many important reforms, but […]

The Electoral Consequences of Globalization

The Electoral Consequences of Globalization

Photo Source  The reasons for the election of Donald Trump as President of the U.S. will be analyzed and argued about for many years to come. Undoubtedly there are U.S.-specific factors that are relevant, such as racial divisions in voting patterns. But the election took place after the British vote to withdraw from the European […]

The New Trade Future in Asia Pacific

The New Trade Future in Asia Pacific

photo: Dirk Dallas Right after the Asian-Pacific nations embraced the dream of free trade in the regional Peru Summit, President-elect Trump buried it. Last weekend, Asia-Pacific Economic Cooperation (APEC) summit made it clear that it would move forward with trade pacts; with or without the US. Right after the Lima summit, President-elect Donald Trump unveiled his […]

After The Trump Triumph

After The Trump Triumph

photo: Gage Skidmore The Trump victory was a “stunning surprise” to Washington and mainstream media.  But it was very much in line with voter distrust in both Clintons and Washington’s ruling class. Politically, Americans are fed up. In cooperation with the Democratic National Committee, the Clinton campaign had far too cozy ties with Wall Street, neoconservatives […]

The Retreat of Financial Globalization?

The Retreat of Financial Globalization?

Eight years after the global crisis of 2008-09, its reverberations are still being felt. These include a slowdown in world trade and a reassessment of the advantages of globalization. Several recent papers deal with a decline in international capital flows, and suggest some reasons for why this may be occurring. Matthieu Bussière and Julia Schmidt of the […]

The Global Economy Remains Unbalanced

The Global Economy Remains Unbalanced

  Discussions around large current account imbalances among systemically relevant economies as a threat to the stability of the global economy faded out in the aftermath of the global financial crisis. More recently, some signs of a possible resurgence of rising imbalances have brought back attention to the issue. We argue here that, while not […]

U.S. 2016 Divides Advanced and Emerging Economies

U.S. 2016 Divides Advanced and Emerging Economies

photo: Vince Alongi In advanced and emerging economies, preferences for either Clinton or Trump differ based on the candidates’ views on trade, the economy, and foreign policy doctrine. Though Clinton is the preferred candidate in most areas, whoever the next U.S. president is will face – and may contribute to – significant challenges on several continents. […]

The Distributional Consequences of Preferential Trade Liberalization: Firm-Level Evidence

The Distributional Consequences of Preferential Trade Liberalization: Firm-Level Evidence

photo: Dirk Dallas Abstract We analyze data covering the near universe of U.S. foreign direct investment and disaggregated tariff data for all preferential trade agreements (PTA) signed by the United States. We find that preferential trade liberalization disproportionately benefits the largest and most productive multinationals. Specifically, our results indicate that U.S. preferential tariffs increase sales to […]

Will Migration Across the Mediterranean Dominate Migration Across the Rio Grande?

Will Migration Across the Mediterranean Dominate Migration Across the Rio Grande?

The massive migration from Mexico to the United States that began in the 1980s and ended in 2007 was one of the largest in history (Hanson and McIntosh). Nine years after the mass migration, the issue remains politically sensitive, and Donald Trump’s advocacy of building a Wall along the southern border contributed to his winning […]

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