How Much Will the Belt and Road Initiative Reduce Trade Costs? (with Alen Mulabdic, Siobhan Murray, Nadia Rocha and Michele Ruta)

Common Transport Infrastructure: A Quantitative Model and Estimates from the Belt and Road Initiative (with Alen Mulabdic and Michele Ruta)

Working Papers

Value Added and Productivity Linkages Across Countries (with Alexandre Gaillard) -- New version

Bought, Sold and Bought Again: Impact of production fragmentation and currency unions on export elasticities (with Erik Frohm, Vanessa Gunnella and Elena Pavlova)

Global Trade and GDP Co-movement (with Alexandre Gaillard) -- New version

The Global Effect of Regional Trade Agreements (with Guillaume Sublet and Julien Maire)

Inflation Dynamics and Global Value Chains (with Sebastian Franco-Bedoya)

In Progress


  • Exchange Rates and External Adjustments -- IMF's 2019 External Sector Report (Gustavo Adler, Sergii Meleshchuk and Carolina Osorio-Buitron). Slides.
  • The political economy of protection in GVCs: Evidence from Chinese micro data (Rodney D. Ludema, Anna Maria Mayda, Miaojie Yu and Zhi Yu). Slides.
  • The Global Business Cycle: Measurement and Transmission (Zhen Huo, Andrei A. Levchenko, Nitya Pandalai-Nayar). Slides.