Globalization is a complex phenomenon involving the mobility of goods, capital, labour and ideas across country borders. From an economic point of view, two waves of globalization have been identified by scholars so far. The first wave materialized between the second half of the Nineteenth century and WWI; the second wave rose after WWII and gained momentum at the end of the Twentieth century before slowing down in the aftermath of the global financial crisis due to renewed protectionist pressures. This collection of essays studies the implications of this second wave of globalization for national economic performance. In doing so, it takes a bottom-up approach, building up the macroeconomic trajectories from the microeconomic effects of globalization on firms and workers. The collected essays highlight the asymmetry of responses across firms and workers between and within industries as well as territories, thus explaining the forces behind the emergence of 'winners' and 'losers' from globalization. The collection shows how state-of-the-art models of international economics and economic geography can be brought to life by addressing several topical issues in the public debate, ranging from regional growth and regional decline to international competition and creative destruction, from innovation patterns to cultural diversity and from immigration to offshoring.Contents: Firms: Growing Locations: Industry Location in a Model of Endogenous Growth (P Martin and G I P Ottaviano) Global Income Divergence, Trade, and Industrialization: The Geography of Growth Take-offs (R E Baldwin, P Martin, and G I P Ottaviano) Agglomeration and Trade Revisited (G I P Ottaviano, T Tabuchi, and J F Thisse) Market Size, Trade, and Productivity (M J Melitz and G I P Ottaviano) Market Size, Competition, and the Product Mix of Exporters (T Mayer, M J Melitz, and G I P Ottaviano) Workers: Cities and Cultures (G I P Ottaviano and G Peri) The Economic Value of Cultural Diversity: Evidence from US Cities (G I P Ottaviano and G Peri) The Labor Market Impact of Immigration in Western Germany in the 1990s (F D'Amuri, G I P Ottaviano, and G Peri) Rethinking the Effect of Immigration on Wages (G I P Ottaviano and G Peri) Immigration, Offshoring, and American Jobs (G I P Ottaviano, G Peri, and G C Wright) Readership: Advanced undergraduate and graduate students, researchers and practitioners in the fields of international economics and economic geography.GIANMARCO I P OTTAVIANO is a Professor of Economics and holds the Achille and Giulia Boroli Chair in European Studies at Bocconi University. He has previously taught at the London School of Economics and the University of Bologna and has advised the Organisation for Economic Co-operation and Development (OECD), the European Central Bank, the European Commission, and the Finnish government among others. G I P Ottaviano received his BA in Economics at Bocconi University, his M.Sc. in Economics at the London School of Economics, and his PhD in Economics at the Université Catholique de Louvain.His expertise is in fields of international trade, urban economics and economic geography. His recent publications focus on the competitiveness of firms in the global economy as well as the economic effects of immigration and offshoring on employment and wages.