to the elimination of tariffs and cuts in non-tariff measures by 25%, is in the range of 1% to 4% of initial consumption …

to the elimination of tariffs and cuts in non-tariff measures by 25%, is in the range of 1% to 4% of initial consumption …

This paper studies the macroeconomic impact of higher tariffs using a two-country DSGE model with endogenous trade and … heterogeneous firms. The analysis consists of two scenarios. First, we assume that one country increases tariffs while the other … does not. Second, both countries raise tariffs. In the first case, the country that did not raise tariffs suffers an …

Incorporating weakly nonseparable preferences into the familiar time-preference model, we emphasize a role of steady …-state welfare changes in determining the effect of permanent tariffs on the current account. The effect consists of: a welfare … effect, due to steady-state welfare changes, which is negative (positive) when preferences toward imports are more (less …

Incorporating weakly nonseparable preferences into the familiar time-preference model, we emphasize a role of steady …-state welfare changes in determining the effect of permanent tariffs on the current account. The effect consists of: a welfare … effect, due to steady-state welfare changes, which is negative (positive) when preferences toward imports are more (less …