This chapter reviews a recent body of theoretical and empirical work that studies the
normative and positive aspects of trade policy. We start by presenting reduced-form …

This paper reviews recent research on geography and trade. One of the key empirical
findings over the last decade has been the role of geography in shaping the distributional …

We evaluate the duration of the China trade shock and its impact on a wide range of
outcomes over the period 2000 to 2019. The shock plateaued in 2010, enabling analysis of …

We develop a multi-sector gravity model with heterogeneous workers to quantify the
aggregate and group-level welfare effects of trade. The model generalizes the specific …

We build an equilibrium model of a small open economy with labor market frictions and
imperfectly enforced regulations. Heterogeneous firms sort into the formal or informal sector …

We estimate a multi-country multi-sector New Keynesian model to quantify the drivers of
domestic inflation during 2020–2023 in several countries, including the United States. The …

Low-income countries' share of global exports nearly tripled between 1990 and 2015,
largely due to China's emergence as an exporting powerhouse. Evidence from several …

We review theoretical and empirical work on the economic effects of the United States and
China trade relations during the past 20 years. We first discuss the origins of the China …

Deep trade agreements (DTAs) are widespread and have taken the world beyond tariff
liberalization in goods trade. As the importance of global supply chains and the services …

Economic welfare is essential in the modern economy since it directly reflects the standard
of living, distribution of resources, and general social satisfaction, which influences …