Critics of globalization claim that firms are being driven by the prospects of cheaper labor to shift employment abroad. Yet the evidence, beyond anecdotes, is slim. This paper focuses on the labor market decisions of US multinationals at home and abroad for the years 1977 to 1999. Using firm...

"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...