How could de-dollarization happen? Argentine firms rapidly starting invoicing international trade transactions in Chinese currency (RMB) in 2023, amid a dollar shortage. This paper studies why.
Dennis Novy
@dennisnovy.bsky.social
Chief Economist & Director of Analysis at FCDO, Professor of Economics at University of Warwick, CEP/LSE, CEPR.
New at JIE: "How to grow an invoicing currency: Micro evidence from Argentina" by Felipe Benguria (@uky.bsky.social), Dennis Novy (@dennisnovy.bsky.social) doi.org/10.1016/j.ji...
Panel on the Future of Development Recorded at the @cepr.org Paris Symposium, December 2025 Panellists: Megan O'Donnell (Gates Foundation) Dennis Novy (UK FCDO, Warwick University) Justin Sandefur (Open Philanthropy) Moderated by Doug Gollin (Tufts) cepr.org/multimedia/p...
Panel: How does growth fit with development policies?
Recorded at the CEPR Paris Symposium at Sciences Po on Tuesday 9th December 2025. Panel: How does growth fit with development policies? Moderated by Doug Gollin (Tufts University and CEPR) Panellists: Megan O’Donnell (Gates Foundation) Dennis Novy (Chief Economist, UK FCDO, University of Warwick and CEPR) Justin Sandefur (Open Philanthropy)
cepr.org
🆕 RFBerlin Discussion Paper! Horng Chern Wong, @dennisnovy.bsky.social, Carlo Perroni & Natalie Chen show how rapid urban structural change affected the urban\city divide by boosting city amenities and containing wages for superstar urban service firms. 🔗 www.rfberlin.com/wp-content/u...
Great to visit our FCDO colleagues in #Barbados and discuss challenges facing small island states in the Caribbean region and innovative climate finance solutions. Fantastic to meet our local partners from @caribank.bsky.social UWI CaveHill IDB IMF
Dennis Novy on the changing global economic landscape and developing international partnerships www.omfif.org/meetings/den...
Dennis Novy on the changing global economic landscape and developing international partnerships - OMFIF
Dennis Novy, chief economist and director of analysis at the UK Foreign, Commonwealth and Development Office, joins OMFIF to discuss Britain’s global economic position as a place for trade, investment...
omfif.org
The business of climate technology adoption: A conference hosted by British International Investment in partnership with CEPR @cepr.org Opening remarks by FCDO Chief Economist Professor Dennis Novy www.youtube.com/watch?v=T55P...
EVENT: The business of climate technology adoption: Remarks from FCDO's Professor Dennis Novy
YouTube video by British International Investment
youtube.com
Congratulations to Prof. Dennis Novy (@dennisnovy.bsky.social) appointed Chief Economist and Director of Analysis at the UK’s Foreign Office (FCDO). An inspiring example of academic insight informing global policy. 🔗 Read the full story: https://inomics.link/warwick-bsky #Econsky #PublicPolicy
University of Warwick Professor Dennis Novy Appointed Chief Economist at UK Foreign Office 3 Practical questions, generated by our AI model
Professor Dennis Novy from the University of Warwick's Department of Economics has taken up his role as Chief Economist and Director of Analysis at the UK Foreign, Commonwealth & Development Office (FCDO).
inomics.link
Congratulations to CAGE Impact Director @dennisnovy.bsky.social on his appointment to the Foreign, Commonwealth and Development Office as the lead economic adviser to the Foreign Secretary on the UK’s foreign and international development policy.
Dennis Novy becomes lead economic advisor to the Foreign, Commonwealth and Development Office
Congratulations to CAGE Impact Director, Dennis Novy who has been appointed as Chief Economist and Director of Analysis at the Foreign, Commonwealth & Development Office (FCDO).
buff.ly
When the US administration hiked tariffs on imports from China in 2018/19, research shows that imports from Mexico filled the gap. @dennisnovy.bsky.social & Natalie Chen discuss the benefits an earlier hike in US tariffs had on Mexico’s exports and employment for #Advantage. 📰 buff.ly/tbn0LUY
How US tariffs against China provided a boost for Mexican exports and employment
In 2018 and 2019, the US administration hiked tariffs on imports from China. Research shows that imports from Mexico filled the gap, resulting in more employment and higher wages in the Mexican…
buff.ly
🎉Very happy to share that I joined the University of Lisbon’s School of Economics and Management (ISEG) as an Invited Assistant Professor this September🎉. Excited to be in a great academic environment and a great city! If you’re in Lisbon (or just passing through), feel free to drop me an email!
Great programme for the CEP/LSE-Warwick Junior Trade Workshop on 22 September @cep-lse.bsky.social @warwickecon.bsky.social cep.lse.ac.uk/textonly/_ne...
Dennis Novy@dennisnovy.bsky.social · last yr.Call for papers The CEP/LSE – Warwick Junior Trade Workshop will bring together PhD students in the field of international economics for job market paper presentations and discussions. @warwickecon.bsky.social @cep-lse.bsky.social Submit papers by 27 July. More ➡️ cep.lse.ac.uk/_new/events/...
Lack of dollar availability & connections with a Chinese state-owned bank played a key role in promoting #renminbi use in Argentina, with the share of imports from China invoiced in renminbi having surged from zero to nearly 50% in 2023. Felipe Benguria, Dennis Novy cepr.org/voxeu/column... #EconSky
Felipe Benguria and @dennisnovy.bsky.social on a unique policy experiment in Argentina. cepr.org/voxeu/colum...
The battle for trade currency dominance: The dollar vs the renminbi in Argentina
The US dollar has traditionally dominated the invoicing of international trade. But could other currencies one day replace it? This column examines a unique policy experiment in Argentina in 2023. Amid a severe dollar shortage, Argentina expanded its currency swap agreement with the People’s Bank of China. The share of imports from China invoiced in renminbi surged rapidly from zero to nearly 50%, displacing the US dollar. Using rich firm-level data on trade and banking, the authors show that lack of dollar availability and connections with a Chinese state-owned bank played a key role in promoting renminbi use.
cepr.org
Call for papers The CEP/LSE – Warwick Junior Trade Workshop will bring together PhD students in the field of international economics for job market paper presentations and discussions. @warwickecon.bsky.social @cep-lse.bsky.social Submit papers by 27 July. More ➡️ cep.lse.ac.uk/_new/events/...
In 2018-2019, the #US administration hiked #tariffs on imports from #China. As a result, imports from #Mexico partly filled the gap, leading to an export and #employment surge in Mexico. Natalie Chen, Dennis Novy, Diego Solórzano cepr.org/voxeu/column... #EconSky
The New Global Economy: Trade Wars and De-dollarisation? Submissions deadline: 1 July 2025 Conference dates: 27-28 September 2025 Location: Cambridge UK
Centre for Economic Policy Research@cepr.org · last yr.#CallforPapers for the conference 'The New Global Economy: Trade Wars & De-dollarisation?' Deadline: 1 July Organisers: @meredith-crowley.bsky.social @uniofcam.bsky.social , Lu Han @bankofcanada.ca, Dmitry Mukhin , Ben Tomlin @bankofcanada.ca More and submit your paper cepr.org/events/new-g...
“Tariffs and Their Implications” Free to join on 30 April With - Teresa Fort - Jacob J. Lew - David E. Weinstein - Jeffry Frieden - Dennis Novy @columbiaigp.bsky.social @columbiauniversity.bsky.social @columbiasipa.bsky.social
CAGE Research Centre@cagewarwick.bsky.social · last yr.How are tariffs reshaping global markets? CAGE Impact Director, Dennis Novy @dennisnovy.bsky.social will be joining a panel of economists next week to discuss how tariffs are redrawing the map of global trade — and what it means for policymakers, businesses, and consumers.
What is the effect of heightened uncertainty on international trade? ➡️ Trade reacts more strongly than domestic economic activity. Our research: Trade and Uncertainty | The Review of Economics and Statistics | MIT Press @restatjournal.bsky.social direct.mit.edu/rest/article...
Trade and Uncertainty
Abstract. We offer a new explanation as to why international trade is so volatile in response to economic shocks. Our approach combines the idea of uncertainty shocks with international trade. Firms o...
direct.mit.edu
Great to see our recent PhD student Edoardo Tolva’s paper on the ISoT program. Joint work with Cristoforoni, Errico and Rodari on “Oligopolies in Trade and Transportation” with great micro data from Chile @etolva.bsky.social @warwickecon.bsky.social @jintlecon.bsky.social
Journal of International Economics@jintlecon.bsky.social · last yr.📢 We are excited to share the agenda for the inaugural International Seminar on Trade (ISoT)! 📄 📍 World Bank, Washington D.C. 🗓️ 5-6 May 2025 Co-organized by @jintlecon.bsky.social, @banquedefrance-off.bsky.social, @cepr.org, World Bank and Uni of Surrey
New AEJ:Macro paper with Breinlich, Leromain & @dennisnovy.bsky.social Tests an old Paul Krugman idea: does import protection promote exports through industry-level scale economies? Find scale economies do operate, but there is also an offsetting supply chain effect 1/ bsky.app/profile/aeaj...
AEA Journals@aeajournals.bsky.social · last yr.AEJ: Macroeconomics: "Import Liberalization as Export Destruction? Evidence from the United States" by Holger Breinlich, Elsa Leromain, Dennis Novy, and Thomas Sampson. www.aeaweb.org/articles?id=...
AEJ: Macroeconomics: "Import Liberalization as Export Destruction? Evidence from the United States" by Holger Breinlich, Elsa Leromain, Dennis Novy, and Thomas Sampson. www.aeaweb.org/articles?id=...
Import Liberalization as Export Destruction? Evidence from the United States
(Forthcoming Article) - In trade models with scale economies import liberalization reduces exports within industries by shrinking real market potential. We find this export destruction mechanism reduc...
aeaweb.org
🚩 Call for papers 🚩 2nd Midlands Trade & Investment Network ECR Conference Birmingham, United Kingdom 25 June 2025 t.co/tHORzmixdI
New trade theory: Victor Norman, Avinash Dixit, and how it started at Warwick University in 1976 @cage_warwick @warwickecon @BaldwinRE @PrincetonEcon warwick.ac.uk/fac/soc/econ...
Victor Norman: A pioneer of trade theory
Victor Norman, a prominent Norwegian economist and leading figure in international economics passed away last year.
warwick.ac.uk
Great interview: @douglasirwin.bsky.social on US trade policy — past and present By @alanbeattie.bsky.social podcasts.apple.com/gb/podcast/t...
Trump and the history of tariffs. With Doug Irwin
Podcast Episode · The Economics Show · 20/01/2025 · 43m
podcasts.apple.com
📰Can Europe find its way through the woods in 2025? Dennis Novy @dennisnovy.bsky.social discusses the challenges for the German economy and its industries in an interview for The New European archive.ph/0XcSv
New research. How has Brexit affected UK trade? We find TCA reduced goods exports by 6.4%, imports by 3.1% Smaller firms hardest hit. Around 16,400 firms stopped exporting to the EU entirely But larger firms' exports unaffected, contributing to relatively small fall in overall trade 1/
Nice FT write-up of our new Brexit & trade paper by the always excellent @pmdfoster.bsky.social Rightly notes that our findings (goods exports⬇️6.4% due to TCA, imports ⬇️3.1%) suggest OBR's forecast (long-run trade ⬇️15%) may be an over-estimate of the impact of Brexit on.ft.com/4iK8esS
Brexit hit to UK trade less than predicted, says study
Larger companies have adapted to red tape at the border, according to London School of Economics research
on.ft.com
Hey #EconSky! I am on the market this year. Check my profile for the thread with the paper! You can find all the other great candidates from Warwick at @warwickecon.bsky.social
Warwick Economics@warwickecon.bsky.social · 2y agoEdoardo Tolva's job market paper uses the Russian airspace closure as a quasi-experiment to estimate the elasticity between transport modes and develops a model to measure its impact on welfare. Find out more: buff.ly/4hTFEEZ #EconJobMarket
