All your worst fears confirmed

Okonomos

 The cat is formally out of the bag. Trade reforms are bad for jobs, but usually good for productivity.

 In a recent paper*, Rana Hasan, Devashish Mitra, and K V Ramaswamy have studied a lot of industry-level data for 1980 to 1997, disaggregated by states and come to this conclusion.

 They find