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We provide a synthesis of the theoretical models that study the use of escape clauses, also known as safeguards, in multilateral and preferential trade agreements. We consider models that explain this type of flexibility based on economic efficiency, political economy shocks, and...
Persistent link: https://www.econbiz.de/10014023452
We present a dynamic two-country model in which military spending, geopolitical risk, and government bond prices are jointly determined. The model is consistent with three empirical facts: hegemons have a funding advantage, this advantage rises with geopolitical tensions, and war losers suffer...
Persistent link: https://www.econbiz.de/10015056136
existing terms-of-trade theory that offers an efficiency foundation for the market-access focus of the GATT rules. On the other …
Persistent link: https://www.econbiz.de/10014023450
The paper reviews selected implications of trade integration via global value chains (GVC) and identifies gaps in understanding of GVC risks. Despite recent significant progress, many GVC risks remain unknown. The paper also discusses pros and cons of possible strategies to minimise GVC risks...
Persistent link: https://www.econbiz.de/10014324195
Against the background of rising anti-globalisation sentiment, this report argues that, while there are good reasons for some people to be angry, trade is not the root of many problems, nor can it solve them on its own. What is needed is an integrated approach to make the whole system work...
Persistent link: https://www.econbiz.de/10011695367
This report assesses how specific border procedures impact on the operation of supply chains and the resulting policy implications, using data from the OECD Trade Facilitation Indicators (TFIs) database and from the OECD-WTO database on trade-in-value-added. The assessment focusses on the impact...
Persistent link: https://www.econbiz.de/10011403532
trade theory, and modern macroeconomics by incorporating the best features of each. This chapter describes the theoretical …
Persistent link: https://www.econbiz.de/10014025276
Persistent link: https://www.econbiz.de/10012885702
up until World War I, then sharply dropped during the twentieth century following World War shocks, and have been rising …
Persistent link: https://www.econbiz.de/10014025330
Persistent link: https://www.econbiz.de/10014009166