the U.S. would experience a sudden stop of capital flows, which would unavoidably drag the world economy into a deep … instead that the root imbalance was of a different kind: The entire world had an insatiable demand for safe debt instruments … of exposing the economy to a systemic panic. This structural problem can be alleviated if governments around the world …

This paper describes two databases dealing with world bilateral trade flows: the World Trade Database (WTDB) assembled …

Global risk-off shocks can be highly destabilizing for financial markets and, absent an adequate policy response, may …-put framework that reduced the persistence of risk-off shocks. We also show that domestic macroeconomic and financial conditions … play a key role in benefiting from the spillovers of these policies during risk-off episodes. Countries like Japan, which …

We quantify the impact on U.S. employment from imports and exports during 1995-2011, using the World Input … total job losses of 2.0 million. It follows that the expansion in U.S. merchandise exports to the world relative to imports …