The effective rate of protection (ERP) is a widely-used tool to evaluate the joint impact of input and output tariffs on the net protection offered to individual sectors. Nonetheless, the theoretical foundations underlying the traditional ERP are decades out of date. In this paper, we provide...

In response to Russiaʼs full-scale invasion of Ukraine in February 2022, the European Union (EU) and its allies imposed broad export bans against Russia. Besides exerting economic pressure on the aggressor, a central objective was to cut Russia off from critical technologies needed to produce...

This study analyzes the impact of natural resource funds (NRF) on municipal fiscal results in Colombia, using an instrumental variable approach. It specifically analyzed the case of the Colombian Savings and Price Stabilization Fund (FAEP). The results suggest that a 1 percent increase in...