Journal of International Economics

Brazil’s 1990s trade liberalization had lasting effects on human capital. Tariff cuts in sectors employing children reduced child labor and increased schooling; adult-specific cuts did the opposite. Cohorts exposed in childhood show persistent effects on educational attainment.

The interaction of endogenous networks and markups significantly amplifies the gains from policies that facilitate supplier entry or firm matching, and from deep trade agreements that combine tariff cuts with such policies.

What inflation rate should central banks target? Using two global surveys, authors provide evidence on inflation preferences among economic experts

Leveraging cross-border project-level information, the paper identifies “green” FDI and finds that a larger number of active climate policies is associated with higher green FDI inflows.

US–China tariffs reshaped Factory Asia, not just bilateral trade. Product-level IO links show shocks cut China’s imports from upstream Japan Korea Taiwan suppliers, redirected trade toward ASEAN/Mexico/India, and shifted welfare across countries.

How did U.S. manufacturers respond to the China shock? Using a new job-title-based measure, I show that import competition spurred persistent adoption of new work, largely through offshoring and shifts toward non-production activities—while widening local wage inequality.

How do transport networks drive structural transformation? Improved market access raises farm productivity, reduces agricultural employment, and promotes labor-saving tech adoption. Such adoption is concentrated among high-profit farmers, consistent with fixed adoption costs.

Authors find that on average banks have reduced the emissions exposure of their syndicated loans portfolio, but there are no differences between banks that did and those that did not subscribe to climate commitments.

Since 2008, advanced economies have become more like emerging markets: higher, more volatile spreads, more volatile consumption, and less persistent trade balances. AME–EME cycles have also become more synchronized. Our model links spreads to debt and volatility to global shocks.

Using multiple datasets and an online survey, we find that incompatible electric plugs reduce electronics exports through both intensive and extensive margins. They are also associated with lower average quality among affected products.

We identify the liquidity channel through which Fed QE and QT affect capital flows to emerging markets. QE lowers the convenience yield on short-term Treasuries, QT raises it, and those changes drive the capital flows.

Since 1999, the euro area has combined weak growth, trade surpluses, rising openness, and no real exchange rate trend. We find that slower productivity growth has been a major driver of the trade surplus, while exchange rate dynamics reflect longer-run shifts in trade patterns.

The Journal of International Economics thanks departing Co-Editor Jesse Schreger and Associate Editors Zhengyang Jiang, Rohan Kekre, and Liliana Varela for their excellent service to the journal.

Using a unique micro-level dataset on European MNE affiliate networks, we show that foreign restructuring shifted toward contraction in the late 2010s, with growing friend- and nearshoring. Foreign contractions did not systematically boost home-country activity.

Do global banks lend more to countries hit by natural disasters? On average, no—but that masks a split. Banks with strong pre-disaster ties to an affected country raise lending ~10%, while those with weak ties cut it. Relationships help banks navigate uncertainty.

Liability dollarization shapes how depreciation passes through to domestic prices. After Korea's 1997 depreciation, firms with more foreign currency debt saw declining net worth, sales, and markups, pushing up sectoral prices. A model ties 10–44% of sectoral price changes to this channel.

This paper shows that diaspora networks played a pivotal role in directing early foreign investment to Chinese locations with weaker institutions and in catalyzing long-run industrial development.