Global Economy Lecture 2024

Rethinking Ricardo: Environmental Comparative Advantage and the Environmental Gains from Trade

The Global Economy Lecture 2024 which is jointly organized by the Oesterreichische Nationalbank (OeNB) and The Vienna Institute for International Economic Studies (wiiw).

Speaker
Ralph Ossa
Chief Economist and Director
Economic Research and Statistics Division
World Trade Organization

Introduction
Robert Holzmann
Governor
Oesterreichische Nationalbank

Chair
Robert Stehrer
Scientific Director
The Vienna Institute for International Economic Studies (wiiw)

Ralph Ossa is Chief Economist and Director of the Economic Research and Statistics Division at the World Trade Organization. He joined the World Trade Organization after a distinguished career in academia with appointments at Princeton University, the University of Chicago, and the University of Zurich. Professor Ossa's research focuses on international economics with a particular emphasis on questions of policy relevance. For example, he has explored the economics of trade wars and trade talks and estimated how much countries gain from international trade. He holds a PhD in economics from the London School of Economics.

Abstract
I argue that it is crucial to embrace international trade in the fight against climate change. The main point is that specialization according to environmental comparative advantage brings about large environmental gains from trade, just like specialization according to economic comparative advantage brings about large economic gains from trade. However, the environmental gains from trade do not materialize naturally as the outcome of market forces but need to be unlocked by government action designed to internalize environmental externalities.

Date
Wednesday, October 2, 2024, 16.00 - 17.30 (CEST)

Venue
Oesterreichische Nationalbank, Veranstaltungssaal
Otto-Wagner-Platz 3, 1090 Vienna
and online via Webex