In 2018, the United States launched a trade war with China, marking an abrupt departure
from its historical leadership in integrating global markets. By late 2019, the United States …

Does inflation vary across the income distribution? This article reviews the growing literature
on inflation inequality, describing recent advances and opportunities for further research in …

After decades of supporting free trade, in 2018 the United States raised import tariffs and
major trade partners retaliated. We analyze the short-run impact of this return to …

We examine conventional approaches to evaluating the economic impact of protectionist
trade policies. We illustrate these conventional approaches by applying them to the tariffs …

Trade elasticity which varies widely across products is a crucial parameter in evaluating the
welfare impacts of changes in trade frictions. We estimate trade elasticities at the product …

This chapter focuses on the estimation and interpretation of gravity equations for bilateral
trade. This necessarily involves a careful consideration of the theoretical underpinnings …

After 2004, measured growth in labor productivity and total factor productivity slowed. We
find little evidence that this slowdown arises from growing mismeasurement of the gains …

We examine the impact of policy uncertainty on trade, prices, and real income through firm
entry investments in general equilibrium. We estimate and quantify the impact of trade policy …

We review a recent body of theoretical work that aims to put numbers on the consequences
of globalization. A unifying theme of our survey is methodological. We rely on gravity models …

The sense that recent technological advances have yielded considerable benefits for
everyday life, as well as disappointment over measured productivity and output growth in …