Economic Consequences of Trade

This project examines the economic consequences of international trade: who gains, who loses, by how much, under what conditions, and what are the consequences of different policy responses. Individual research studies will focus on particular aspects of the economic consequences of trade. Among the key themes to be considered are: the quantitative magnitude of the welfare gains from international trade for different groups within countries (such as skilled and unskilled workers); the different mechanisms through which trade affects the welfare of different economic groups; the implications of global value chains (GVCs) for the economic consequences of international trade; and the effects of different institutional frameworks for making decisions about international trade policy. The results of this study will bear directly on current policy debates about the economic consequences of international trade.