The core idea behind the paper is that trade policy matters for the organization of global value chains, a notion largely neglected by economists but which has important implications for our understanding of trade and the international transmission of trade policy shocks. We develop a...

Overview of the research findings / Stephen Tapp, Ari Van Assche and Robert Wolfe -- International trade with firm heterogeneity : theoretical developments and policy implications / Beverly Lapham -- Trade and productivity : insights from Canadian firm-level data / John Baldwin and Beiling Yan...

The collapse of trade during the great recession of 2008–2009 has raised the question of whether the rise of global value chains (GVCs) has increased or accelerated the international transmission of business cycle shocks. In this paper, we empirically investigate two channels through which a...