and productivity impacts are magnified when tariffs rise during expansions and when they are imposed by more advanced or … smaller (as opposed to developing or larger) economies; effects are asymmetric, being larger when tariffs go up than when they …

and productivity impacts are magnified when tariffs rise during expansions and when they are imposed by more advanced or … smaller (as opposed to developing or larger) economies; effects are asymmetric, being larger when tariffs go up than when they …

out. If imposed on imports in upstream sectors, import tariffs lower domestic output in downstream sectors; if imposed … downstream, they raise upstream production. The aggregate effect of tariffs can be recessionary or expansionary—depending on the … strength of upstream and downstream effects. Tariffs raise inflation no matter what, but how persistently they do so also …