As U.S. borrowing from abroad grew (the trade balance becomes more negative) employment in the tradable goods sector shrunk.  Did foreign lending (and the imports that accompanied it) kill employment in manufacturing?  Will manufacturing employment return when the U.S. stops borrowing from the rest of the world?  We study these questions here.


Recent News:

The NYU Stern-ATL FRB International Workshop. 20142013 | 2012

We're blogging now!  Check in on us over at the NYU Stern Economics Blog.

We're publishing now!  You can pick up our Global Economy textbook from Amazon.

The NYU Stern International Workshop Schedule 


Recent Papers: (complete listing)

Trade Adjustment Dynamics and the Welfare Gains from Trade 
(with George Alessandria and Horag Choi; this version: April 2014) 

The Aggregate Impact of Antidumping Policies
Preliminary Version | New version coming soon.

Global Imbalances and Structural Change in the United States (SLIDES)
(with Timothy J. Kehoe and Joseph B. Steinberg; this version: June 2014)
Related policy paper at the Minneapolis FRB | A review of this work in The Region. 

How Well is U.S. Intrafirm Trade Measured? (SLIDES)
American Economic Review P&P, 2015, 105(5), 524-29.  
(Longer version: An Overview of U.S. Intrafirm-trade Data Sources, May 2013)
(Related Party Trade Press Releases, 1992-1997

Intrafirm Trade and Vertical Fragmentation in U.S. Mulitnational Corporations
(previously: Horizontal vs. Vertical FDI: Evidence from U.S. Multinationals)  
(with Natalia Ramondo and Veronica Rappoport; this version: March 2015) 

Why Have Economic Reforms in Mexico Not Generated Growth?
(with Timothy J. Kehoe) Journal of Economic Literature, 2010, 48(4), 1005-27.
Media: WSJ Real Time Economics | The Atlantic blog | VoxEU

The Proximity-Concentration Tradeoff under Uncertainty  
(with Natalia Ramondo and Veronica Rappoport)
Review of Economic Studies, 2013, 80(4), 1582-1621. 

Are Shocks to the Terms of Trade Shocks to Productivity? (with Timothy J. Kehoe)
Review of Economic Dynamics, 2008, 11(4), 804-819. 
A review of this work in The Region

Sudden Stops, Sectoral Reallocations, and the Real Exchange Rate (with Timothy J. Kehoe) Journal of Development Economics, 2009, 89(2), 235-249. From Gonzalo Fernandez de Cordoba Martos: lecture notes | programs.

The International Elasticity Puzzle (this version: March 2008)

New Exporter Dynamics (SLIDES) (with Jonathan L. Willis: this version July 2014)

How Important is the New Goods Margin in International Trade?  (SLIDES) (with Timothy J. Kehoe) Journal of Political Economy, 2013, 121(2), 358-392.


Contact Information:

Department of Economics
Stern School of Business, New York University
44 West 4th Street, Suite 7-86
New York, NY 10012
fx:  212 995 4218