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Sergi Basco
Sergi Basco is Assistant Professor at Universitat Autònoma Barcelona and research fellow at MOVE Foundation. He received his Ph.D. in Economics from the Massachusetts Institute of Technology (MIT) in 2010. He received his B.A. and M.Sc. in Economics (with honours) from Universitat Pompeu Fabra.
Basco's research and teaching fields are international economics and macroeconomics. His work focuses on understanding the effects of globalisation. He is also interested in investigating the origin and consequences of asset price bubbles and, more broadly, the macroeconomic effects of changes in the credit supply. He is the author of the book Housing Bubbles: Origins and Consequences
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The new globalisation and income inequality
Trade in intermediates (or ‘unbundling of production') and trade in capital have become increasingly important in last 25 years. This article shows that trade in intermediates generates a reallocation of capital across countries that exacerbates world inequality in both income and welfare. Unbundling of production hurts middle-income countries but helps those with high productivity. Trade in intermediates also increases within-country inequality, and this increase is U-shaped in the aggregate productivity level of the country.
