Introduction The big empirical questions in trade What are the gains from trade? Who gains /loses from international trade? What are the mechanisms of the adjustment process? Remain active areas of work because they are difficult to study Trade policy is an endogenous outcome of lobbying and political economy Trade barriers look similar to technology shocks, and often correlated (i. e. innovations in logistics is both a technology shock and a shock to offshoring Inherent data limitations incomplete admin data, lack of price data, cannot directly observe technology use, and the general coarseness of dataIntroduction • The big empirical questions in trade – What are the gains from trade? – Who gains/loses from international trade? – What are the mechanisms of the adjustment process? • Remain active areas of work because they are difficult to study – Trade policy is an endogenous outcome of lobbying and political economy – Trade barriers look similar to technology shocks, and often correlated (i.e., innovations in logistics is both a technology shock and a shock to offshoring) – Inherent data limitations • incomplete admin data, lack of price data, cannot directly observe technology use, and the general coarseness of data 3