international trade policy
-
Rethinking the Optimal Tariff Theory
•
Using forty years of price data from the raw cane sugar market in New York City, trade economist Douglas Irwin finds that market demand responds asymmetrically to tariff increases versus tariff reductions.
-
Reevaluating Openness to Trade: Estimating the True Potential Gains from the Service Industry
•
New research finds that potential welfare gains from trade liberalization are likely highly underestimated because international trade statistics fail to capture the true economic impact of tradable services.