We provide evidence indicating that countries with well-developed social security systems do not necessarily face a trade-off between social spending and competitiveness. On average, countries that spend a lot on social needs score well in the competitiveness league. We investigate the...

Greater international economic interconnectedness over recent decades has been changing inflation dynamics. This paper presents evidence that the expansion of global value chains (GVCs), ie cross-border trade in intermediate goods and services, is an important channel through which global...

We document that observed international input-output linkages contribute substantially to synchronizing producer price inflation (PPI) across countries. Using a multi-country, industry-level dataset that combines information on PPI and exchange rates with international and domestic input-output...

Is inflation (still) a global phenomenon? We study the international co-movement of inflation based on a dynamic factor model and in a sample spanning up to 56 countries during the 1960-2023 period. Over the entire period, a first global factor explains approximately 58% of the variation in...

Globalization and robotics (globotics) are transforming the world economy at an explosive pace since they are driven by digital technology that is advancing in phenomenal increments. This paper - which should be considered a 'thought piece' - argues that the globotics transformation is likely to...

In the absence of financial frictions, the purpose of thin capitalization rules is to limit multinational firms’ possibilities of engaging in tax planning via debt shifting. This paper analyzes the effects of thin capitalization rules in the case where firms have limited access to external...

We quantify the effect of container technology on transport costs and trade by estimating the modal choice between containerization and breakbulk shipping using micro-level trade data. The model is motivated by novel facts that relate container usage to shipment, destination and firm...

The economic effects of a pandemic crucially depend on the extend to which countries are connected in global production networks. In this paper we incorporate production barriers induced by COVID-19 shock into a Ricardian model with sectoral linkages, trade in intermediate goods and sectoral...

The agro alimentary sector of Mexico needs to modify its productive structure giving some options for facing the challenges presented in seven important world wide factors that will influence to the XXI century agriculture: Globalization and trade releasing in world markets, population growth,...

Many fronts have been eminent along the "cold war" period. They has as main battle pitches those countries and territories fighting for decolonization and independence. This war tendency has grown even more sharpen and intense, after the end of the above mentioned cold war, due to the USSR...