Coping with Shocks and Shifts: The Multilateral Trading System in Historical Perspective

This paper was prepared for the Bank of England/NBER conference on Globalization in an Age of Crisis:Multilateral Economic Cooperation in the Twenty-First Century, London, September 2011. We are grateful to participants at the conference, and in particular to Alan Taylor, for helpful suggestions. The research leading to these results has received funding from the European Research Council under the European Union's Seventh Framework Programme (FP7/2007-2013) / ERC grant agreement no. 249546. O'Rourke thanks the ERC for their generous support. The usual disclaimer applies. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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