This report takes stock of the evolution of global value chains (GVCs) in light of technological developments, such as robotics, big data and the Internet of Things. It discusses how these technologies are reshaping GVCs and examines the effect of these changes on labor markets in developed and...

A collection of papers by some of the world’s leading specialists on global value chains (GVCs). It examines how GVCs have evolved and the challenges they face in a rapidly changing world. The approach is multidisciplinary, with contributions from economists, political scientists, supply chain...

The Global Value Chain Development Report 2023, the fourth in this biennial series, is released at a critical juncture in the evolution of Global Value Chains (GVCs). In response to the diverse shocks of recent years, this report explores approaches to build resilient and sustainable GVCs. It...

This paper uses Chinese firm level data to detect the international propagation of adverse shocks triggered by the US hurricane season in 2005. We provide evidence that Chinese processing manufacturers with tight trade linkages to the United States reduced their intermediate imports from the...

This note examines the implications of the crisis in Ukraine for global trade and development. It highlights the importance of the supplies of food, energy and certain industrial inputs from Russia and Ukraine, and explores how the war is causing severe risks to food and energy security as well...

"This paper studies Holmstrom's [1999] seminal model of career concerns, but considers that a small change in the beliefs about the agent's future productivity may imply a large change in his compensation--because, for example, the agent may be fired or promoted. This allows us to study how the...

"This paper re-considers the empirical relevance of the Lucas critique using a DSGE sticky price model in which a weak central bank response to inflation generates equilibrium indeterminacy. The model is calibrated on the magnitude of the historical shift in the Federal Reserve's policy rule and...

"Whether technological progress raises or lowers aggregate employment in the short run has been the subject of much debate in recent years. Using a simple model of industry employment, we show that cross-industry differences of inventory holding costs, demand elasticities, and price rigidities...