The paper examines how economic policy uncertainty (EPU) in host and competing countries reshapes U.S. multinationals’ greenfield foreign direct investment (FDI).

New at JIE: "Multinational investment activity under policy uncertainty in host and competing countries" by Daisoon Kim, Sunhyung Lee

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New at JIE: "Firm networks and global technology diffusion" by Paulo Bastos, Katherine Stapleton, Daria Taglioni, Hannah Yi Wei

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Leveraging new input-output tables in an open economy model of structural change, we find that domestic and foreign TFP growth matter greatly for manufacturing share in value-added in sub-Saharan Africa (SSA). International trade transmits foreign TFP growth to the SSA economy

New at JIE: "Structural change in sub-Saharan Africa: An open economy perspective". by Gaaitzen de Vries, Hagen Kruse (@hagen_kruse), Emmanuel Mensah, Yabo Vidogbena (@Ladys_gw), Kei-Mu Yi

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This paper develops a framework to analyze how preferential credit policies affect firm markups, sectoral resource allocation, and ultimately aggregate productivity and welfare. The analysis sheds light on how such policies may have supported rise of emerging industries in China.

New at JIE: "Preferential credit policy with sectoral markup heterogeneity" by Kaiji Chen, Yuxuan Huang, Xuewen Liu, Zhikun Lu, Yong Wang

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The 2018-2019 US-China trade war created jobs -- in Brazil. In line with Brazil’s pattern of comparative advantage, employment and wages rose in the regions more exposed to Chinese tariffs on US exports, but U.S. tariffs on Chinese exports did not affect Brazil’s labor markets.

New at JIE: "The US-China trade war creates jobs (elsewhere)" by Tiago Cavalcanti, Pedro Ogeda, Emanuel Ornelas (@emanuelornelas.bsky.social)

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New at JIE: "Preferred habitats and timing in the world’s safe asset" by Alexandra Tabova, Francis E. Warnock

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Monetary policy is key to shaping international spillovers of asset market shocks. Outside the ELB, foreign shocks — such as a drop in investment opportunities — can boost domestic growth. At the ELB, the same shocks lead to currency appreciation, disinflation, and even recession

New at JIE: "The international transmission of asset market shocks in liquidity traps" by Philippe Bacchetta (@phbacche.bsky.social), Kenza Benhima, Yannick Kalantzis, Maxime Phillot

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New at JIE: "Price discrimination and competition in international transportation" by Anna Ignatenko

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New at JIE: "Covered interest parity in emerging markets: Measurement and drivers" by Mai Chi Dao, Pierre-Olivier Gourinchas

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New at JIE: "The distributional effects of carbon pricing across countries" by Mathilde Le Moigne, Simon Lepot, Marcos Ritel, Dora Simon

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New at JIE: "Demand for safe assets and spillovers from the global dollar cycle" by Cían Allen, Rudolfs Bems, Lukas Boer, Racha Moussa

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Chinese private equity outflows have surged. We uncover a new international transmission channel of Chinese monetary policy via these flows, using matched stock–fund data from the Qualified Domestic Institutional Investor program and event studies around policy announcements.

New at JIE: "A nascent international financial channel of China’s monetary policy transmission" by Chang Ma, Alessandro Rebucci (@arebucci.bsky.social), Sili Zhou

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This paper builds a 66-country model and estimates bilateral trade costs for goods and services from 1995 to 2018. It finds that globalization outweighs productivity growth in driving structural transformation and that globalization's impact is heterogeneous across countries.

New at JIE: "Globalization and structural transformation: The role of tradable services" by Sang Min Lee

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Firms initially treated 2018 tariffs as temporary, delaying their exit from the markets. This "rumor of peace" stalled the trade response for years before reality set in.

New at JIE: "Trade wars and rumors of trade wars: The dynamic effects of the U.S.–China tariff hikes" by Trang Hoang, Carter Mix

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Making America great again? The economic impacts of Liberation Day tariffs On April 2, 2025, President Trump declared “Liberation Day,” announcing broad tariffs to reduce trade deficits and revive U.S. industry. We analyze th…

"Making America great again? The economic impacts of Liberation Day tariffs" - publication by Anna Ignatenko (@nhhecon.bsky.social and @nhhnor.bsky.social), @lashkaripour.bsky.social, Luca Macedoni and @simonovska.bsky.social in @jintlecon.bsky.social: www.sciencedirect.com/science/arti...

Reka Juhász (@rjuhasz.bsky.social, University of British Columbia), previously an Associate Editor, will succeed her as Co-Editor. Agostina Brinatti (University of Chicago) will join the editorial team as Associate Editor starting July 1.

Mary Amiti will step down as Co-Editor on June 30, 2026, after seven years of outstanding service. We are deeply grateful for her leadership and many contributions to the journal.

Using Taiwan’s 2001 outward-FDI liberalization as a natural experiment, we show affected electronics firms were 10% more likely to invest in China. Linked employer-employee data reveal higher job turnover and wage losses for domestic incumbents, strongest for mid-wage workers.

New at JIE: "Firm and labor adjustments to FDI liberalization" by Ming-Jen Lin, Yi-Ting Wang, Sung-Ju Wu

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When are sector-specific price shocks magnified in GE with multiple industries/distorsions? Authors develop a framework with homothetic sectoral preferences and derive a sufficient statistic for the share of the direct effect of the shock that materializes in the aggregate.

New at JIE: "Intersectoral demand linkages: Good shocks, bad outcomes?" by Kristian Behrens, Sergei Kichko, Philip Ushchev

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Agents do not internalize the impact of investment on sovereign bond prices, investment is insufficient, and a subsidy improves welfare. Yet, if the sovereign is impatient, due to political economy factors, it finds private capital accumulation excessive and prefers to tax it.