Recent theoretical work has posited that many industries have become hypercompetitive, characterized by volatile or transient competitive advantage. This study documents the spread of hypercompetition in the US manufacturing sector from 1950 to 2002. In so doing, the study provides careful...

New empirical and theoretical work has highlighted the importance of multi-product firms in international trade flows. We examine multi-product exporters in the small open economy of Belgium, considering their importance and the relationship between the margins of trade and firm productivity,...

Global value chains have fundamentally transformed international trade and development in recent decades. We use matched firm-level customs and manufacturing survey data, together with Input-Output tables for China, to examine how Chinese firms position themselves in global production lines and...