We investigate how multinational firms contribute to the transmission of shocks across
countries using a large multicountry firm-level data set that contains cross-border ownership …

This original and panoramic book proposes that the underlying forces of demography and
globalisation will shortly reverse three multi-decade global trends–it will raise inflation and …

We evaluate the duration of the China trade shock and its impact on a wide range of
outcomes over the period 2000 to 2019. The shock plateaued in 2010, enabling analysis of …

In this paper, we review the literature on declining business dynamism and its implications in
the United States and propose a unifying theory to analyze the symptoms and the potential …

The labor share in US manufacturing declined from 61% in 1967 to 41% in 2012. The labor
share of the typical US manufacturing establishment, in contrast, rose by over 3 percentage …

We attempt to understand potential common forces behind rising market concentration and a
slowdown in business dynamism in the US economy, through a micro-founded general …

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 …

We use relatively unexplored dimensions of US microdata to examine how US
manufacturing employment has evolved across industries, firms, establishments and …

We take a fresh look at the aggregate and distributional effects of policies to liberalize
international capital flows—financial globalization. Both country‐and industry‐level results …

This paper documents how US firms organize goods production across firm and country
boundaries. Most US firms that perform physical transformation tasks in-house using foreign …