Using both the onset of the US-China trade war in 2018 and the most recent Russia-Ukraine war and associated trade … significantly decreases their trade with these jurisdictions following sanctions, government-linked firms show a marked contrast. In … sanctions. The increase is large - roughly 33% (t=4.01). We find no increase broadly to other countries (even countries in the …

Russia after the invasion of Ukraine. 61% of respondents think that firms should exit Russia, regardless of the consequences …. Only 37% think that leaving Russia is a purely business decision. If a firm does not conform with these desires, 66% of the …

We study international trade and macroeconomic dynamics triggered by the imposition of sanctions. We begin with a … consumption goods and a commodity (e.g., gas), respectively. Home imposes sanctions on Foreign. Financial sanctions exclude a … fraction of Foreign agents from the international bond market. Gas sanctions take the form of a ban on gas trade, equivalent to …

In December 2022, following Russia's invasion of Ukraine, a G7-led coalition of countries imposed a $60 per barrel …

This note isolates an overlooked economic force for the Ruble to appreciate in response to international sanctions … limiting exports to Russia. The economic intuition is that when Russians are unable to buy the mix of foreign goods they wish … sanctions …

Recent sanctions on the use of Russia's international reserve assets seem likely to reduce the appeal of US dollar … has been enhanced by the demonstration that the United States is willing and able to sanction misbehavior. Geopolitically …

This paper explores the role of restrictions on the use of international reserves as economic sanctions. We develop a …

We show that the exchange rate may appreciate or depreciate depending on the specific mix of sanctions imposed, even if … the underlying equilibrium allocation is the same. Sanctions that limit a country's imports tend to appreciate the country …'s exchange rate, while sanctions that limit exports and/or freeze net foreign assets tend to depreciate it. Increased …

This paper investigates the implications of international financial sanctions for the reserve currency status of the US … dollar. We propose a simple model of a reserve currency, demonstrate how the anticipation of financial sanctions can weaken …