Preferential trade agreements have become deeper over time, often encompassing policy areas that go beyond traditional … trade policy, such as investment, competition, and intellectual property rights protection. In the literature, a prominent … adding a policy area to a trade agreement increases the domestic value added of intermediates (forward global value chain …

This paper studies the relationship between export policy and food prices. We show that, when individuals are loss … averse, food exporters may use trade policy to shield the domestic economy from large price shocks. This creates a … complementarity between the price of food in international markets and export policy. Specifically, unilateral actions by exporting …