How do import tariffs affect employment? We develop an empirical strategy to identify the effects of tariffs using difference-in-differences, comparing anti-dumping (AD) investigations resulting in dumping tariffs to those not resulting in dumping tariffs. We find that an AD tariff decreases...

Using Chinese firm-level trade data combined with global anti-dumping (AD) and countervailing duty (CVD) investigations, we uncover a previously overlooked cost of industrial policy under WTO agreements. At every stage of AD/CVD investigation, subsidies significantly raise the probability of...

We study the sustainability of international trading rules in a multipolar world. A rules-based equilibrium is shaped by three forces. A static temptation to exploit market power undermines cooperation, while two dynamic forces support it: the efficiency gains from rules and the cost of...

We show that plurilateral agreements facilitate global tariff liberalization by creating an MFN-based margin of cooperation that leaves preferential access via preferential trade agreements (PTAs) unchanged. In a model of endogenous trade agreement formation with farsighted governments, PTAs...

We show that plurilateral agreements facilitate global tariff liberalization by creating an MFN-based margin of cooperation that leaves preferential access via preferential trade agreements (PTAs) unchanged. In a model of endogenous trade agreement formation with farsighted governments, PTAs...

• we analyze plurilateral trade agreements that liberalize trade in particular products among a range of countries • the Information Technology Agreement (ITA) covers around 12% of global trade • our theory shows that such agreements can be a way forward for multilateral liberalization in...

Transnationale Subventionen sind ein relativ neues wirtschaftspolitisches Phänomen, das eng mit Chinas "Going Global"-Politik im Rahmen der Belt and Road Initiative (BRI) verknüpft ist. Die Einfuhr subventionierter Waren aus BRI-Partnerstaaten in die Europäische Union (EU) und in die...

Transnationale Subventionen sind ein relativ neues wirtschaftspolitisches Phänomen, das eng mit Chinas „Going Global“-Politik im Rahmen der Belt and Road Initiative (BRI) verknüpft ist. Die Einfuhr subventionierter Waren aus BRI-Partnerstaaten in die Europäische Union (EU) und in die...

The Most-Favoured-Nation (MFN) principle has historically been instrumental in promoting stability and equitable trade conditions. In recent decades there has been a rise in bilateral and regional trade agreements, which deviate from the MFN principle in providing more favourable tariff...

The second administration of United States President Donald Trump has shaken the foundations of the multilateral trading system by implementing unilateral tariffs on imports from most of its partners, and by signing 'deals' with a few of them. It is impossible to legally reconcile these actions...

Members of the World Trade Organization are increasingly disregarding its rules, raising concerns about the future of the multilateral trading system. To analyze the sustainability of the rules-based trade regime, we develop a dynamic framework of stochastic asynchronous games where the leading...

One of the most notable developments in the asset management industry in recent decades has been the growth of algorithmic trading. At the same time, significant structural changes in the industry have occurred, with passive investing gaining momentum. The intersection of these two major trends...

Do countries gain more by liberalizing trade together than alone? To answer this question, we study the 2015 Phase II expansion of the Information Technology Agreement (ITA), which eliminated tariffs on products covering over 12% of world trade. Market access rose by 4-6%. Nearly half of this...