December 07, 2011
Supply Chains and the Future of Globalization in the Wake of the Tōhoku Earthquake and Tsunami
I was sitting in a briefing recently, where I heard how US GDP would be measurably affected by the floods in Thailand –- specifically through the shutdown of production of key auto parts. [0] That reminded me of the supply-chain-propagated impact of events nine months earlier, following the earthquake and tsunami in Japan. Here’s the trade-related part of the assessment from my colleague Isao Kamata’s article in the La Follette Policy Report, “The Great East Japan Earthquake: A View on Its Implication for Japan’s Economy”:
Posted by Menzie Chinn at 08:15 PM permalink | Comments (19)
April 01, 2010
"Export or Die"
From today's Economist, Greg Ip writes:
America's economic transformation will require businesses to rely less on selling to Americans and more on selling abroad.... The emphasis will be on high-value products and services rather than on labour-intensive items such as furniture and clothing.
Continue reading ""Export or Die""
Posted by Menzie Chinn at 01:15 PM permalink | Comments (21)
February 25, 2010
Exports: Productivity, Factor Proportions, and Policy Implications
Bringing New Research Developments to Bear
The President's goal of doubling exports elicited a lot of discussion, and skepticism. In a previous blog post, I examined the prospects of accomplishing this goal from a macroeconomic perspective. However, a few discussions I've had with journalists have reminded me that the frontier of international trade theory has moved considerably over the past few years, even as the much of the economic commentary remains mired in the older models. In this respect, the most recent edition of the Economic Report of the President was extremely welcome, as it brought to bear recent innovations in the trade literature.
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Posted by Menzie Chinn at 01:40 PM permalink | Comments (20)
November 29, 2009
From VoxEU: The Great Trade Collapse
Causes, Consequences and Prospects, edited by Richard Baldwin
From Baldwin's introductory chapter:
World trade experienced a sudden, severe and synchronised collapse in late 2008 -- the sharpest in recorded history and deepest since WWII. This Ebook -- written for the world's trade ministers gathering for the WTO's Trade Ministerial in Geneva -- presents the economics profession's received wisdom on the collapse....
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Posted by Menzie Chinn at 02:52 PM permalink | Comments (8)
October 03, 2007
Bush Era Consumer and Occupational Safety Budgets and Trade Anxiety
I noted in a previous post the decline in resources devoted to monitoring the safety of products in previous years, contributing to perceived gaps in consumer safety, and hence resistance to international trade.
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Posted by Menzie Chinn at 10:10 PM permalink | Comments (34)
September 04, 2007
AWOL on safety regulation and the protectionist surge
Many observers have long worried about protectionist pressures even as the economy operates at full-employment. What, I wonder, will occur when the economy slows appreciably and unemployment increases, against a backdrop where the safety of imports is already at issue? Those of us who believe that a open and free trading regime is preferable to a restrictd trading regime should be concerned.
Continue reading "AWOL on safety regulation and the protectionist surge"
Posted by Menzie Chinn at 06:30 PM permalink | Comments (19)
April 10, 2007
Are Democrats Truly More Protectionist? (Part II)
There was some disagreement with my assertion that Democrats were -- effectively -- not as protectionist as many have argued. Here are some more thoughts on the matter, as the Administration prepares the case for countervailing duties on Chinese imports [1].
Continue reading "Are Democrats Truly More Protectionist? (Part II)"
Posted by Menzie Chinn at 10:56 PM permalink | Comments (12)
March 03, 2007
CAFE standards
Featuring prominently in the new energy plan from President Bush is a call for changes in the corporate average fuel efficiency (CAFE) standards that the Administration claims could reduce U.S. gasoline consumption by 5% over the next 10 years. Here are some of the reasons I'm not thrilled by that suggestion.
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December 15, 2006
Bernanke in China
Distortion versus effective subsidy.
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Posted by Menzie Chinn at 12:24 PM permalink | Comments (17)
November 19, 2006
Are the Democrats Truly More Protectionist?
In the wake of the midterm elections, and the failure to renew Vietnamese PNTR, there has been a lot of talk about how more protectionist Democratic lawmakers are. See WaPo, The Economist (pre-election) [sub.req.], WSJ [sub.req.] and here. Greg Mankiw also steps in the fray.
Continue reading "Are the Democrats Truly More Protectionist?"
Posted by Menzie Chinn at 04:53 PM permalink | Comments (22)
Are the Democrats Truly More Protectionist?
In the wake of the midterm elections, and the failure to renew Vietnamese PNTR, there has been a lot of talk about how more protectionist Democratic lawmakers are. See WaPo, The Economist (pre-election) [sub.req.], WSJ [sub.req.] and here. Greg Mankiw also steps in the fray.
Continue reading "Are the Democrats Truly More Protectionist?"
Posted by Menzie Chinn at 04:53 PM permalink | Comments (22)