We revisit the relationship between trade and growth taking into account the recent expansion of global value chains (GVCs). We develop a new instrument for trade based on gravity estimations. Our instrument exploits a recent transportation shock: the sharp increase in the maximum size of...

We study how disruptions to the supply of foreign critical inputs (FCIs) - that is, inputs primarily sourced from extra-EU countries with highly concentrated supply, advanced technology products, or which are key to the green transition - might affect value added at different levels of...

Trade encourages economic expansion and improves welfare based on international division of labor. However, trade also has an environmental footprint, particularly in the form of carbon dioxide (CO2) and other emissions. This paper examines the impact of environmental regulation in exporter and...