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 Moynihan Institute’s program for Trade\, Development and Po litical Economy welcomes Stefania Garetto from Boston University. \;Us ing newly digitized historical trade data from Foreign Commerce Yearbooks\ , we recover Cuba’s revealed comparative advantage at the beginning of the 20th century. Through the lens of a quantitative Ricardian model of trade \, we conduct a counterfactual analysis to provide a quantitative answer t o a long-standing question about the Cuban economy: the “road not taken”. What would the Cuban economy have looked like in later years if its econom ic integration had remained the same as in the beginning of the twentieth century? How did the US involvement in the Cuban sugar industry affect Cub an specialization and growth? The answers to these questions shed light on our understanding of the consequences of extreme specialization for devel oping countries in situations of political instability.Stefania Garetto is a trade economist whose work is centered on the study of foreign direct i nvestment and the activities of multinational corporations\, both from a r eal and from a financial perspective. Stefania’s current research combines empirical analysis and structural dynamic modeling to understand the crea tion of multinational firms via mergers and acquisitions\, and their expan sion in space over time. She is a research associate of NBER and a researc h fellow of CEPR. DTEND:20241028T210500Z DTSTAMP:20260511T135021Z DTSTART:20241028T194500Z LOCATION: SEQUENCE:0 SUMMARY:No Sugar Coating: Quantifying the Welfare Losses from US-Cuba Trade Policy UID:RFCALITEM639140898212786671 X-ALT-DESC;FMTTYPE=text/html:

The Moynihan Institute’s program for Trade\ , Development and Political Economy welcomes Stefania Garetto from Boston University. \;

Using newly digitized historical trade data from Foreign Commerce Yearbooks\, we recover Cuba’s revealed comparative advant age at the beginning of the 20th century. Through the lens of a quantitati ve Ricardian model of trade\, we conduct a counterfactual analysis to prov ide a quantitative answer to a long-standing question about the Cuban econ omy: the “road not taken”. What would the Cuban economy have looked like i n later years if its economic integration had remained the same as in the beginning of the twentieth century? How did the US involvement in the Cuba n sugar industry affect Cuban specialization and growth? The answers to th ese questions shed light on our understanding of the consequences of extre me specialization for developing countries in situations of political inst ability.

Stefania Garetto is a trad e economist whose work is centered on the study of foreign direct investme nt and the activities of multinational corporations\, both from a real and from a financial perspective. Stefania’s current research combines empiri cal analysis and structural dynamic modeling to understand the creation of multinational firms via mergers and acquisitions\, and their expansion in space over time. She is a research associate of NBER and a research fello w of CEPR.

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