Trade
The Trade programme studies the effects of globalisation and trade policy on workers, firms and economies. It analyses the market power of global firms, the role of international trade agreements, and the impact of Brexit on the UK and EU.
Globalisation dramatically increases flows of goods, services, ideas, investments and people, across national borders.
CEP's research on trade seeks to understand the causes and consequences of these flows and the ways in which policy shapes and responds to them.
Our early research based around the new economic geography looked at the role of local resources and technologies and of the cost of doing business at a distance in explaining the economic geography of nations and regions.
Later research placed more emphasis on the role of firms and how differences across firms helped us better understand why exporters are more productive than non-exporters and how the impact of trade liberalisation would be felt unequally across firms. Why are some firms able to expand and access overseas markets to reach customers and set up globalised production processes while other firms are forced out of business? The way in which firms relocate different stages of the production process and restructure operations internationally by outsourcing and offshoring activities has been the focus of our work on global value chains.
The uneven impacts of trade are felt not only by firms but also by households. Integrating national economies affects wages and prices across the economy, and some workers will be made better off and some worse off as a result. Recently developed tools allow researchers to study inequality in the distribution of these gains from trade in more detail than was previously possible. To understand the economic forces at work CEP research combines these new theoretical models with many different data sources, providing information at country, industry, firm, and even transaction level.
Along with technology and geography, politics and regulations also determine the opportunities and the costs of economic integration, as well as how the gains are shared. Our work on Brexit, and on trade policy more generally, puts these questions to the fore.
Featured Work
Trade publications
Hanming Fang, Chunmian Ge, Hanwei Huang and Hongbin Li
19 November 2020
Pol Antràs, Stephen J. Redding and Esteban Rossi-Hansberg
2 November 2020
Shania Bhalotia, Swati Dhingra and Fjolla Kondirolli
2 November 2020
Pol Antrās, Stephen J. Redding and Esteban Rossi-Hansberg
30 September 2020
Stephen J. Redding
29 September 2020
Pol Antràs, Stephen J. Redding and Esteban Rossi-Hansberg
21 September 2020
Benny Kleinman, Ernest Liu and Stephen Redding
15 September 2020
Davin Chor, Kalina Manova and Zhihong Yu
8 September 2020
Julian Hinz and Elsa Leromain
1 September 2020
Thierry Mayer, Marc J. Melitz and Gianmarco I. P. Ottaviano
1 August 2020
Benny Kleinman, Ernest Liu and Stephen J. Redding
20 July 2020
Giordano Mion, Luca David Opromolla and Gianmarco I. P. Ottaviano
13 July 2020
Luke Milsom, Vladimír Pažitka, Isabelle Roland and Dariusz Wójcik
6 July 2020
Francesco Campo, Mariapia Mendola, Andrea Morrison and Gianmarco Ottaviano
23 June 2020
Federico Cingano and Fadi Hassan
8 June 2020
Ester Faia, Sebastien Laffitte, Maximilian Mayer and Gianmarco Ottaviano
29 May 2020
Fabrice Defever, Jose-Daniel Reyes, Alejandro Riaño and Gonzalo Varela
18 May 2020