Once upon a time in the world of development finance, it was assumed that simply investing in developing economies was enough—that the flow…
Manufacturing jobs, once the backbone of the modern US economy, have declined as a share of GDP over recent decades, darkening…
The future of developing countries lies in services. Enhancing productivity in labor-absorbing services in particular must be an essential…
The U.S.-China conflict is threatening continued global economic prosperity and this has inspired a variety of predictions and…
We build on Baqaee and Farhi (2019, 2021) and derive a theoretically-grounded criterion that allows targeting bans on exports to a…
This chapter draws attention to the potential of safeguards in a system with a variable geometry. Section 1 considers the benefits from…
Decades of low inflation led to widespread use of dollar-denominated financial instruments with fixed interest rates and long maturities.…
Efforts to reduce global greenhouse-gas emissions must overcome the free-rider problem, and carbon border adjustment measures are the most…
The global order is deteriorating before our eyes. The relative decline of U.S. power and the concomitant rise of China have eroded the…
In order to rebalance globalization, it is necessary to give an equal voice to labor and capital in the definition of rules, to reinforce…