Director’s Remarks, November 2017 NIER

"The subject of the research articles in this Review is the local and sectoral impacts of globalisation. The globalisation of production and the sources of consumption is hardly new but its consequences have become the economic leitmotif of our times, as it cuts across so many political questions that regularly dominate the agenda here and overseas. Economists commit the Ricardian vice of promoting the long run gains from trade and sometimes neglect the possibility of short run costs, which may not be easy to observe in aggregate but certainly bear down on at the disaggregated level in sectors, regions and households. "