the forces that shape the strength of the terms of trade effects the degree of openness to international trade and the … trade leads to a stable world income distribution. This is because specialization and trade introduce de facto diminishing … returns: countries that accumulate capital faster than average experience declining export prices, depressing the rate of …

.S. employment growth. We find that the increase in U.S. imports from China, which accelerated after 2000, was a major force behind …

of the variation in industry imports from China and changes in federal spending) and two supply-side ones (TFP shocks and …

misaligned exchange rates, appear to have suffered more macroeconomic volatility and also grown more slowly during the postwar … more 'extractive' instit utions from their colonial past were more likely to experience high volatility a nd economic … policies appear to have only a minor impact on volatility and crises. This suggests that distortionary macroeconomic policies …

the supply network determine both whether aggregate volatility disappears as the number of sectors increases (i …-output relations) and aggregate volatility, and more importantly, the relationship between higher-order interconnections and aggregate … volatility. These higher-order interconnections capture the cascade effects, whereby low productivity or the failure of a set of …

I discuss the role of economic theory in empirical work in development economics with special emphasis on general … main arguments using examples from recent work in development economics and political economy …

to study the impact of international trade on wage inequality. Skill premia are determined by technology and the relative … constant, an increase in the volume of international trade increases the skill premium in countries where skills are abundant …, and reduces it in skill-scarce countries. Trade also induces skill-biased technical change, creating a powerful force …