NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Might Global Uncertainty Promote International Trade?

Isaac Baley, Laura Veldkamp, Michael E. Waugh

NBER Working Paper No. 25606
Issued in February 2019

---- Acknowledgments ----

We thank David Backus, Xavier Gabaix, Réka Juhász, Matteo Maggiori, Thomas Sargent, Claudia Steinwender, Stanley Zin, our discussants Alexander Monge-Naranjo, Jaromir Nosal, Kunal Dasgupta, and seminar participants at NYU, Princeton, Stanford, UPF, CREI, Maryland, Minnesota, Toulouse, NYU Stern, Philadelphia FED, Atlanta FED, Michigan, Banco de México, ITAM, SED 2014, EconCon 2014, ASSA 2015, Econometric Society 2015, and XXI Vigo Macro Workshop. Andrea Chiavari, Callum Jones, and Pau Roldán provided excellent research assistance. Isaac Baley acknowledges funding from the European Union’s Horizon 2020 Research and Innovation Programme under the Marie Skłodowska-Curie grant agreement No. 705686-GlobalPolicyUncertainty. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

---- Disclosure of Financial Relationships for Laura Veldkamp ----

I have visited or lectured at the following institutions, where I have received an honorarium and/or have been paid travel expenses:

EIEF, Rome, Italy, research visitor.

Federal Reserve Bank of New York, US. As consultant to the Research Department.

Federal Reserve Bank of Minneapolis, US. As consultant to the Research Department.

Goldman Sachs, as a GMI fellow.

Standard & Poors, one-time honorarium.

University of California at Los Angeles, as a guest Ph.D. lecturer

I also receive a salary from Elsevier as an editor of the Journal of Economic Theory.

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