Aggregate trade data with breakdown into related and non‐related party components show that US multinational enterprises use different trading strategies in the China region relative to other countries. US trade with the China region in 2002–2007 is characterized by arm's‐length...

We study the role of export credit agencies--the predominant tool of industrial policy--on firm behavior by using the effective shutdown of the Export-Import Bank of the United States (EXIM) from 2015-2019 as a natural experiment. We show that firms that previously relied on EXIM support saw a...

The TRIPs plus phenomenon (additional steps to strengthen the Agreement on Trade-Related Aspects of Intellectual Property Rights) tends to be attributed to the regional and bilateral efforts of the United States. This paper suggests that such a perception is mistaken. The EU certainly seeks to...

Trade in services has increased significantly and the United States has been a leader in services trade. The U.S. not only accounts for the largest share of world trade in private services but also runs a substantial amount of surplus in services trade. One important trend has been the rapid...

We review theoretical and empirical work on the economic effects of the United States and China trade relations during the last decades. We first discuss the origins of the China shock, its measurement, and present methods used to study its economic effects on different outcomes. We then focus...

The paper shows that US monetary policy has been an important determinant of global equity markets. Analysing 50 equity markets worldwide, we find that returns fall on average around 3.8% in response to a 100 basis point tightening of US monetary policy, ranging from a zero response in some to a...

We study the effectiveness of government aid to exporters by exploring an exogenous shock that affected the ability of the Export-Import Bank of the United States (EXIM) to provide aid to U.S. exporters through loan guarantees to importers. We focus on Boeing, the largest individual recipient of...