The outcome of the 28th UN Climate Change Conference shows that international co­operation remains possible despite today’s challenging geopolitical situation. Instead of the feared blockade, an agreement was reached for the first time - some three decades after the start of the COP process -...

Policymakers around the world are encouraging the local production of key inputs to reduce risks from excessive dependencies on foreign suppliers. We analyse the macroeconomic effects of supply chain reorientation through localisation policies, using a global dynamic general equilibrium model....