Today, over 4 billion people around the world-more than half the global population-live in cities. By 2050, with the urban population more than doubling its current size, nearly 7 of 10 people in the world will live in cities. Evidence from today's developed countries and rapidly emerging...

"We identify a new set of stylized facts on the 2008-2009 trade collapse that we hope can be used to shed light on the importance of demand and supply-side factors in explaining the fall in trade. In particular, we decompose the fall in international trade into product entry and exit, price...