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, leading to the first signs of overall trade fragmentation along geopolitical lines, i.e. friend-shoring. Trade in goods …Using monthly data on trade in goods between January 2016 and May 2023, this study assesses the impact of recent shocks … on the fragmentation of the global economy, looking in particular at the dynamics of friend-shoring, near-shoring and …
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We examine a situation where efforts on different tasks positively affect production but are not separately verifiable and where the manager (principal) and the worker (agent) have different ideas about how production should be carried out: agents prefer a less efficient way of production. We...
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