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The systems of EU and US export controls of dual-use items have periods of shared history, where the regulatory efforts were directed at a common adversary and with regard to a common array of critical goods and technologies. Despite certain similarities, the current export control regimes warrant awareness of the mutual policies and procedures for EU and US companies engaged in export and re-export of sensitive items. The differing approaches EU Member States take in implementing export controls and the overall complexity of the US system, now bearing the results of the Export Control Reform, make it difficult to navigate one's way and not lose one's sight of the forest for the trees. The article seeks to draw the changing export control frameworks in both jurisdictions and evaluate their interactions from a business perspective.

We analyze the effect of rising Chinese import competition between 1990 and 2007 on US local labor markets, exploiting cross-market variation in import exposure stemming from initial differences in industry specialization and instrumenting for US imports using changes in Chinese imports by other high-income countries. Rising imports cause higher unemployment, lower labor force participation, and reduced wages in local labor markets that house importcompeting manufacturing industries. In our main specification, import competition explains one-quarter of the contemporaneous aggregate decline in US manufacturing employment. Transfer benefits payments for unemployment, disability, retirement, and healthcare also rise sharply in more trade-exposed labor markets.

Since the mid-1990s, researchers have used micro datasets to study countries' production and trade at the firm level and have found that exporting firms differ substantially from firms that solely serve the domestic market. Across a wide range of countries and industries, exporting firms have been shown to be larger, more productive, more skill- and capital-intensive, and to pay higher wages than nonexporting firms. These differences exist even before exporting begins and have important consequences for evaluating the gains from trade and their distribution across factors of production. The new empirical research challenges traditional models of international trade and, as a result, the focus of the international trade field has shifted from countries and industries towards firms and products. Recently available transaction-level U.S. trade data reveal new stylized facts about firms' participation in international markets, and recent theories of international trade incorporating the behavior of heterogenous firms have made substantial progress in explaining patterns of trade and productivity growth.

We exploit a unique event in human history, the exodus of the Vietnamese Boat People to the US, to provide evidence for the causal pro-trade effect of migrants. This episode represents an ideal natural experiment as the large immigration shock, the first wave of which comprised refugees exogenously allocated across the US, occurred over a 20-year period during which time the US imposed a complete trade embargo on Vietnam. Following the lifting of trade restrictions in 1994, US exports to Vietnam grew most in US states with larger Vietnamese populations, themselves the result of larger refugee inflows 20 years earlier.

[...]exports of US soya beans to China dropped by 50% in 2018, even though the trade war began only midway through the year. [...]even under the most optimistic scenarios, millions more hectares of the Amazon rainforest are now threatened. First and foremost, China and the United States should publicly acknowledge their roles in indirectly driving tropical deforestation, and take immediate action to at least remove trade tariffs on the crop. Since the early 2000s, China has decreased the amount of land it dedicates to soya-bean production by around 25%, in part because it is cheaper to import from Brazil.

This article starts by unveiling a strong empirical regularity: multinational corporations exhibit higher stock market returns and earning yields than nonmultinational firms. Within nonmultinationals, exporters exhibit higher earning yields and returns than firms selling only in their domestic market. To explain this pattern, we develop a real option value model where firms are heterogeneous in productivity and have to decide whether and how to sell in a foreign market where demand is risky. Selling abroad is a source of risk exposure to firms: following a negative shock, they are reluctant to exit the foreign market because they would forgo the sunk cost they paid to enter. Multinational firms are the most exposed because of the higher costs they have to pay to invest. The calibrated model is able to match both aggregate U.S. export and foreign direct investment data, and the observed cross-sectional differences in earning yields and returns.

The distinction between firms' extensive and intensive margins highlighted in recent theoretical research in international is central to the understanding of variation in trade across countries, over time, and in response to macroeconomic shocks. Of particular interest is the differential behavior of related-party versus arm's-length trade. Additional examination of this difference, e.g., investigating whether it is due to the nature of goods encompassed by each type of trade, or price versus quantity responses, would be useful. Also helpful would be further theoretical research into the characteristics of firms and their external environment that shape the respective contributions of the extensive and intensive margins.

Does diplomacy affect the prospects of international conflict and cooperation? Systematic empirical assessment has been hindered by the inferential challenges of separating diplomacy from the distribution of power and interests that underlies its conduct. This paper addresses the question of diplomacy's efficacy by examining the intragovernmental politics of US foreign policy, and the varying influence of diplomatic personnel in the policy process. I claim that diplomats hold the strongest preferences for cooperative relations with their host countries, relative to other participants in the foreign policy process. They also exert substantial influence over the formation and implementation of US policies toward their host countries but their influence is intermittently weakened by the short-term shock of an ambassadorial turnover. As a result, when ambassadors are removed from post, diplomacy is more likely to be eschewed for more conflictual means of settling international disagreements, and opportunities for economic exchange are less likely to be realized. I test this theory using newly collected data on US diplomatic representation, for the global sample of countries from 1960 through 2014. To address concerns of diplomatic staffing being endogenous to political interests, I leverage a natural experiment arising from the State Department's three-year ambassadorial rotation system. The turnover of a US ambassador causes a decrease in US exports to the country experiencing the turnover, and heightens the risk of onset of a militarized dispute between that country and the US. These findings point to bureaucratic delegation as an important but overlooked determinant of macro-level international outcomes.

Cultural products are a major component of the world economy and are responsible for a growing share of U.S. exports. The authors examine brand name strategies when cultural products are marketed in foreign countries. Incorporating the unique characteristics of these products, the authors develop a theoretical framework that integrates similarity, which focuses on how the translated brand name relates to the original brand name, and informativeness, which focuses on how the translated brand name reveals product content, to study the impact of brand name translations. The authors analyze Hollywood movies shown in China from 2011 to 2018. The results show that higher similarity leads to higher Chinese box office revenue, and this effect is stronger for movies that perform better in the home market (i.e., the United States). When the translated title is more informative about the movie, the Chinese box office revenue increases. The informativeness effect is stronger for Hollywood movies with greater cultural gap in the Chinese market. Moreover, both similarity and informativeness effects are strongest when the movie is released and reduce over time. This research provides valuable guidance to companies, managers, and policy makers in cultural product industries as well as those in international marketing.