The past decades witnessed big changes in international trade with the rise of global value chains. Some countries, such as China, Poland, and Vietnam rode the tide, while other countries, many in the Africa region, faltered. This paper studies the determinants of participation in global value...

In early 2020, the disease Covid-19 caused a drastic lockdown of the Chinese economy. We use a quantitative trade model with input-output linkages to gauge the effects of this adverse supply shock in China on the global economy through international trade and global value chains (GVCs). We find...

This paper sets up a model of trade, in which two countries with differing levels of technology specialize in the production of sub-stages of the global value chain. In the open economy, the technologically backward country exports intermediates in exchange for imports of a homogeneous...

Recent disruptions to global value chains (GVCs) have raised an important question: Can decoupling from GVCs increase a country’s welfare by reducing its exposure to foreign supply shocks? We use a quantitative trade model to simulate GVCs decoupling, defined as increased barriers to global...

Der Einsatz von Ethanol, erzeugt aus landwirtschaftlichen Grundstoffen, wird in vielen Ländern als vorrangige Form praktiziert, um fossile Kraftstoffe in einem gewissen Umfang zu substituieren. Dabei ist weltweit eine steigende Tendenz zu beobachten, und es entstehen durch den Aufbau eines...

Die derzeitigen Altersvorsorgesysteme stehen durch die demographischen Entwicklungen in den meisten Industrieländern in absehbarer Zukunft vor gravierenden Problemen. Da die staatliche Alterssicherung keine adäquate Versorgung im Alter sicherstellt, muss zusätzlich eine Absicherung durch...

This paper considers labor market adjustments following a large import shock in the German clothing industry caused by the phasing out of the Multi-Fibre Arrangement. Using the German shoe industry as a control group and administrative data, we study adjustments on the individual and firm level...

On 3 June 2020, the German government announced a EUR 130 billion fiscal stimulus package to stimulate market demand and jumpstart the economy in the wake of the COVID-19 pandemic lockdown in the spring of 2020. The most prominent measure of this package is an unconventional fiscal policy in the...