We argue that modeling trade imbalances is crucial to understanding transitional dynamics in response to globalization shocks. We build and estimate a general equilibrium, multi-country, multi-sector model of trade with two key ingredients: (a) endogenous trade imbalances arising from...

In the two decades straddling China's WTO accession, the China Shock, i.e. the rapid trade integration of China in the early 2000's, has had a profound economic impact across U.S. regions. It is now both an internationally litigated issue and the casus belli for a global trade war. Were its...

Even before the Great Recession, U.S. employment growth was unimpressive. Between 2000 and 2007, the economy gave back the considerable gains in employment rates it had achieved during the 1990s, with major contractions in manufacturing employment being a prime contributor to the slump. The U.S....

Die an der Erhebung beteiligten westdeutschen Industrieunternehmen rechnen zwar mittelfristig mit höheren Exporten in die Region und wollen auch ihre Direktinvestitionen steigern. Sie sehen aber - neben den hohen Transport- und Vertriebskosten - auch zahlreiche institutionelle und marktbedingte...

Der Bericht faßt die Ergebnisse des Strukturberichts 1995 zusammen. Die vereinigungsbedingte stärkere Binnenorientierung stimulierte Investoren auch in Sektoren, die im langfristigen Trend weniger wachstumsstark sind. Das Wachstum des Dienstleistungssektors reichte nicht aus, um die...

We propose a new source of cross-sectional variation that may identify causal impacts of government spending on the economy. We use the fact that a large number of federal spending programs depend on local population levels. Every ten years, the Census provides a count of local populations....