The interaction of endogenous networks and markups significantly amplifies the gains from policies that facilitate supplier entry or firm matching, and from deep trade agreements that combine tariff cuts with such policies.

What inflation rate should central banks target? Using two global surveys, authors provide evidence on inflation preferences among economic experts

Leveraging cross-border project-level information, the paper identifies “green” FDI and finds that a larger number of active climate policies is associated with higher green FDI inflows.

US–China tariffs reshaped Factory Asia, not just bilateral trade. Product-level IO links show shocks cut China’s imports from upstream Japan Korea Taiwan suppliers, redirected trade toward ASEAN/Mexico/India, and shifted welfare across countries.

How did U.S. manufacturers respond to the China shock? Using a new job-title-based measure, I show that import competition spurred persistent adoption of new work, largely through offshoring and shifts toward non-production activities—while widening local wage inequality.

How do transport networks drive structural transformation? Improved market access raises farm productivity, reduces agricultural employment, and promotes labor-saving tech adoption. Such adoption is concentrated among high-profit farmers, consistent with fixed adoption costs.

Authors find that on average banks have reduced the emissions exposure of their syndicated loans portfolio, but there are no differences between banks that did and those that did not subscribe to climate commitments.

Since 2008, advanced economies have become more like emerging markets: higher, more volatile spreads, more volatile consumption, and less persistent trade balances. AME–EME cycles have also become more synchronized. Our model links spreads to debt and volatility to global shocks.