This article reviews the literature on production networks in macroeconomics. It presents the
theoretical foundations for the role of input–output linkages as a shock propagation channel …

Recent decades have seen the emergence of global value chains (GVCs), in which
production stages for individual goods are broken apart and scattered across countries …

How small shocks are amplified and propagated through the economy to cause sizable
fluctuations is at the heart of much macroeconomic research. Potential mechanisms that …

Many natural competitors are jointly held by a small set of large institutional investors. In the
US airline industry, taking common ownership into account implies increases in market …

This chapter surveys the theoretical and empirical literature on the relationship between the
spatial distribution of economic activity and transportation costs. We develop a multiregion …

Research in international trade has changed dramatically over the last twenty years, as
attention has shifted from countries and industries towards the firms actually engaged in …

Economists have shown that large and persistent differences in productivity levels across
businesses are ubiquitous. This finding has shaped research agendas in a number of fields …

This paper analyzes the transfer pricing of multinational firms. Intrafirm prices may
systematically deviate from arm's-length prices for two motives: pricing to market and tax …

Global Production is the first book to provide a fully comprehensive overview of the
complicated issues facing multinational companies and their global sourcing strategies. Few …

This Feature summarizes why and how vertical merger enforcement should be invigorated.
In our modern market system, vigorous vertical merger enforcement is a necessity. Strong …