Kwon, Ohyun; Syropoulos, Constantinos; Yotov, Yoto - 2022
We provide quantitative evidence that the primary effects of economic sanctions on trade and welfare are accompanied by … that, for targets, the welfare losses due to extraterritorial effects are large and may exceed the losses due to reduced … trade with targets to generate net welfare gains. The welfare effects on third countries are significant, too. However, the …