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Impact Assessment of the Investment Facilitation for Development (IFD) Agreement
Mar 2026
Working Paper
This paper presents quantitative projections on the expected economic impact of the Investment Facilitation for Development (IFD) Agreement, which proceeds in three steps. First, we estimate the empirical impact of the host-economy investment facilitation environment on foreign affiliate sales.
Welfare and cross-border spillover effects of industrial subsidies in general equilibrium
Jun 2026
Working Paper
In a simple partial equilibrium setting without externalities industrial subsidies promote manufacturing output in the subsidizing region but harm welfare, whereas spillover effects to welfare in other regions are positive if the country is large. In a general equilibrium model instead the welfare effects are ambiguous, because of pre-existing distortions and general equilibrium terms of trade effects.
Mapping sectoral trade balances in time: A look at the numbers
Apr 2026
Working Paper
In this descriptive paper, we focus on the sectoral composition of trade balances and their evolution since the 1970s, through the aggregation of millions of data points for goods and services.
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