Bown, Chad P.; Crowley, Meredith A. - Economics Research, World Bank Group - 2012
a strong countercyclical trade policy response in the pre-Great Recession period of 1988:Q1-2008:Q3 during which … protection during the Great Recession -- e.g., for the US and EU, the model predicts new trade barriers would cover an additional …. While exchange rate movements played an important role in limiting new import protection during the Great Recession, there …