Is globalization being derailed by opponents? Result of this event study analysis of the 1997 fast-track denial suggest that investors (1) may have perceived fast-track as a debate on globalization and (2) appear to have expected financial losses to result from the failure to enact fast-track....

With its America First strategy, the former US administration turned away from an internationally oriented trade policy. It attempted to assert its interests, especially vis-à-vis China, with bilateral and mostly restrictive measures such as import tariffs. This Weekly Report shows that the...

This paper examines the responses of private consumption, residential investment, and business investment in 11 EU countries, Japan, and the United States to shocks in housing and equity prices. The effects are assessed with a Structural Vector Auto Regressive (SVAR) model, and four key findings...