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Many studies use tariffs to measure changes in trade policy. This paper shows that standard sources for tariffs suffer … from substantial measurement error due to misreporting and the resulting false imputation: Countries fail to report tariffs … every year and missing data are more prevalent for preferential than for most favored nation (MFN) tariffs. WITS, the main …
Persistent link: https://www.econbiz.de/10014492124
that offsetting effects on the newly imposed tariffs were substantial. …
Persistent link: https://www.econbiz.de/10012792730
Persistent link: https://www.econbiz.de/10012596777
Modern regional trade agreements focus on promoting bilateral exchange mostly by lowering non-tariff barriers to trade. But do existing regional trade agreements actually deliver what they promise? This paper argues that existing results in the literature are upward biased because of measurement...
Persistent link: https://www.econbiz.de/10014487341
negative direct effect of US tariffs on US imports from China, but (2) do not find evidence for significant short-run trade …
Persistent link: https://www.econbiz.de/10012146302
Persistent link: https://www.econbiz.de/10012614426
This paper investigates how the ordering of variables affects properties of the time-varying covariance matrix in the Cholesky multivariate stochastic volatility model.It establishes that systematically different dynamic restrictions are imposed whenthe ratio of volatilities is time-varying....
Persistent link: https://www.econbiz.de/10012250452
Persistent link: https://www.econbiz.de/10014530657
Evidence on the effectiveness of FX interventions is either limited to short horizons or hampered by debatable identification. We address these limitations by identifying a structural vector autoregressive model for the daily frequency with an external instrument. Applying this approach to the...
Persistent link: https://www.econbiz.de/10012138448
Persistent link: https://www.econbiz.de/10003547850