Klaus Desmet, Dávid Krisztián Nagy, Esteban Rossi-Hansberg
In discussing trade policy in the context of climate change, some people are quick to argue that trade might have to be restricted. After all, trade involves transportation, and unfortunately, transportation is an important source of carbon emissions. In addition, there is growing support for carbon border adjustments, a tariff on carbon-intensive imports (e.g. Elliot et al. 2010, Mehling et al. 2019, Farrokhi and Lashkaripour 2020, Kortum and Weisbach 2020).
Yet, by facilitating locations to switch specialisation, trade may also be a powerful way to mitigate the negative economic effects of global warming. The underlying logic of this claim is straightforward. The impact of rising temperatures depends both on location (e.g. southern Canada or equatorial Africa) and occupation (e.g. farmer or service worker). As such, climate change can be thought of as a shock to comparative advantage. Faced with such a shock, locatio
Some On The Left Are Realizing Having More Babies Is A Good Idea
May 3, 2021
Whether it’s a good thing to bring more children into this world is one of the most basic and important questions any human can ask. It speaks to how we view every new person’s wholesale contribution to our collective future. The question is essential, not only to people who adhere to historic faiths in which God’s first command is to “Go forth and multiply,” but also to evolutionary naturalists who believe the name of the game of life is successfully handing off one’s DNA to the next generation.
AP Photo/Christian Monterrosa
Insanity Wrap needs to know: When will woke corporations learn the wokeness is no good for the bottom line?
Answer: When normals stop buying their stuff, and not one minute sooner we’re still the majority.
Before we get to the sordid details, a quick preview of today’s Wrap.
Lefty Bloomberg writer comes out against “politically guided science”
Brookline, Mass., denies the science, keeps outdoor mask mandate
If there’s one thing lefties hate, it’s people who take them seriously
And so much more.
This Is Not a Sane World, Exhibit #1,000,006
The Minneapolis Target store that was looted and burned during last year’s George Floyd riots now displays a mural that appears to celebrate arson. https://t.co/c4oiCDFbSR
Richard Cooper, Robert Mundell, and John Williamson made important contributions on a variety of topics in international economics throughout their careers, particularly in terms of how we think about currency arrangements. This column reviews the work of all three, tracing their ideas and drawing lessons for policymakers today.
Richard Baldwin
The outbreak of the COVID-19 pandemic required extreme measures limiting freedom of movement, driving most countries to impose a lockdown of non-essential economic activities. Western industrialised countries had not witnessed an event of such magnitude since the Spanish Influenza, so the policy measures were novel and unprecedented.
Italy was the first country to introduce these measures. The first official case of COVID-19 was found on 21 February 2020. Initially, restrictions were confined to 11 municipalities in Lombardy and Veneto, which were declared ‘red zones’,
1 soon after which the government issued a series of emergency decrees (DPCM). On 8 March, the red zone status was extended to 15 additional provinces, and within three days the measures of social distancing were applied to the whole country (the ‘stay at home’ campaign). Sunday 22 March marked the introduction of the nationwide lockdown, consisting of the shutting down of plants producing