Trade growth has slowed sharply since the global financial crisis. U.S. trade data highlights that arm's-length trade-trade between unaffiliated firms-accounts disproportionately for the overall post-crisis trade slowdown. This is partly because arm's-length trade depends more heavily than...

Trade growth has slowed sharply since the global financial crisis. U.S. trade data highlights that arm's-length trade--trade between unaffiliated firms--accounts disproportionately for the overall post-crisis trade slowdown. This is partly because arm's-length trade depends more heavily than...