Nicita, Alessandro; Olarreaga, Marcelo; Silva, Peri - C.E.P.R. Discussion Papers - 2013
extent of cooperation re ected in WTO members' tariffs. Because many members of the WTO apply tariffs well below the … negotiated tariff bounds, creating what is known as tariff water, there is also room for WTO members to set non …-cooperative tariffs. As expected, we found that in the absence of tariff water, WTO tariffs are set cooperatively. Interestingly, non …