BEGIN:VCALENDAR VERSION:2.0 METHOD:PUBLISH PRODID:-//Telerik Inc.//Sitefinity CMS 15.1//EN BEGIN:VTIMEZONE TZID:Eastern Standard Time BEGIN:STANDARD DTSTART:20251102T020000 RRULE:FREQ=YEARLY;BYDAY=1SU;BYHOUR=2;BYMINUTE=0;BYMONTH=11 TZNAME:Eastern Standard Time TZOFFSETFROM:-0400 TZOFFSETTO:-0500 END:STANDARD BEGIN:DAYLIGHT DTSTART:20250301T020000 RRULE:FREQ=YEARLY;BYDAY=2SU;BYHOUR=2;BYMINUTE=0;BYMONTH=3 TZNAME:Eastern Daylight Time TZOFFSETFROM:-0500 TZOFFSETTO:-0400 END:DAYLIGHT END:VTIMEZONE BEGIN:VEVENT DESCRIPTION:The program for \;Trade\, Development and Political Economy welcomes \;Kei-Mu Yi from the University of Houston.Using newly linke d confidential microdata from the U.S. Census Bureau\, we provide a granul ar view of U.S. global value chains (GVC) between 2002 and 2017. \; Li nking the source country of input imports with the destination country of exports at the establishment level\, we reveal new patterns of multi-count ry supply chains connected to the United States. \; First\, we find th at for every dollar of exports\, imported inputs represented 13 cents in 2 002 and over 20 cents by 2017. \; Second\, we find complementarities b etween input and output markets\, specifically\, a very strong role of so- called “round-trip'' trade linkages where an establishment imports inputs from and exports output to the same country. \; Third\, we find a stro ng positive association between regional trade agreements and GVC flows.&n bsp\; We contrast these new results to those that would be obtained from a lternative measures of GVCs—such as those built from combining national-le vel input-output tables—and quantify the role of aggregation bias and prop ortionality assumptions on multi-country supply chain measurement. \; Finally\, we highlight key features of canonical models of GVCs that could rationalize these empirical findings.Kei-Mu Yi is the M. D. Anderson Chai r in Economics at the University of Houston. \; Before joining UH\, Yi was employed by the Federal Reserve Bank of Minneapolis where he served a s a special policy advisor to the president. Yi is a noted expert in the f ields of international trade and macroeconomics. He has published seminal articles on the importance of vertical production linkages for internation al trade flows and is considered one of the founders of the analysis of “o ffshoring.” His publications appear in prestigious economics journals such as the American Economic Review\, the Journal of Political Economy\, the Journal of International Economics and many more. \; He earned a Ph.D. in economics at the University of Chicago and BS in economics at MIT. DTEND:20240916T210500Z DTSTAMP:20260512T000924Z DTSTART:20240916T194500Z LOCATION: SEQUENCE:0 SUMMARY:Kei-Mu Yi: Global Value Chains - Firm-Level Evidence from the Unite d States UID:RFCALITEM639141269645961373 X-ALT-DESC;FMTTYPE=text/html:

The program for \;Trade\, Development a nd Political Economy welcomes \;Kei-Mu Yi from the University of Houst on.

Using newly linked confidential microdata from the U.S. Census B ureau\, we provide a granular view of U.S. global value chains (GVC) betwe en 2002 and 2017. \; Linking the source country of input imports with the destination country of exports at the establishment level\, we reveal new patterns of multi-country supply chains connected to the United States . \; First\, we find that for every dollar of exports\, imported input s represented 13 cents in 2002 and over 20 cents by 2017. \; Second\, we find complementarities between input and output markets\, specifically\ , a very strong role of so-called “round-trip'' trade linkages where an es tablishment imports inputs from and exports output to the same country.&nb sp\; Third\, we find a strong positive association between regional trade agreements and GVC flows. \; We contrast these new results to those th at would be obtained from alternative measures of GVCs—such as those built from combining national-level input-output tables—and quantify the role o f aggregation bias and proportionality assumptions on multi-country supply chain measurement. \; Finally\, we highlight key features of canonica l models of GVCs that could rationalize these empirical findings.

Ke i-Mu Yi is the M. D. Anderson Chair in Economics at the University of Hous ton. \; Before joining UH\, Yi was employed by the Federal Reserve Ban k of Minneapolis where he served as a special policy advisor to the presid ent. Yi is a noted expert in the fields of international trade and macroec onomics. He has published seminal articles on the importance of vertical p roduction linkages for international trade flows and is considered one of the founders of the analysis of “offshoring.” His publications appear in p restigious economics journals such as the American Economic Review\, the J ournal of Political Economy\, the Journal of International Economics and m any more. \; He earned a Ph.D. in economics at the University of Chica go and BS in economics at MIT.

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