This paper links the sharp drop in US manufacturing employment after 2000 to a change in
US trade policy that eliminated potential tariff increases on Chinese imports. Industries more …

Multinational sales have grown at high rates over the last two decades, outpacing the
remarkable expansion of trade in manufactures. Consequently, the trade literature has …

This paper examines the interactions between Foreign Direct Investment (FDI), inequality,
and growth, both from an empirical and a theoretical point of view. Using a panel of 119 …

We examine how uncertainty affects firms' internationalization choices. We begin by
unveiling a new empirical regularity: using a unique dataset that allows us to study the …

This study proposes a novel channel through which trade liberalization may induce
innovation through the reduction of trade policy uncertainties (TPU) in destination markets …

We document several new features of firms' export entry and exit behaviors: i) one-third of
exporting firms enter into and exit from exporting multiple times; ii) most continuing exporters …

Multinational production (MP) can lead to large gains through international technology
sharing. However, empirical evidence suggests that geography matters for MP: Affiliate …

This article starts by unveiling a strong empirical regularity: multinational corporations exhibit
higher stock market returns and earning yields than nonmultinational firms. Within …

We examine the impact of trade liberalization on domestic investment in the US
manufacturing sector. Using a difference-in-differences identification strategy, we find that …

The paper investigates the impact of economic policy uncertainty on the choice of entry
mode of enterprises' Outward Foreign Direct Investment (OFDI). Based on a framework of …