Similarly, as labour market regulation might become less important for comparative advantage, the regulation of data flows will become more important. The importance of regulation is reflected in recent trade agreements or trade policy announcements that include substantive chapters on IP protection and e-commerce, and these will be discussed in Section D. How these new areas will affect comparative advantage in digital intensive tasks and sectors will determine trade patterns in these activities in the future. For example, Goldfarb and Tucker (2010) show that the tightening of European privacy laws in 2004 decreased the effectiveness of online advertising in Europe by 65 per cent relative to the United States.