to the elimination of tariffs and cuts in non-tariff measures by 25%, is in the range of 1% to 4% of initial consumption …, depending on the parameterization. The welfare gain increases in the elasticity of substitution between domestic and foreign …

We study the macroeconomic consequences of tariffs. We estimate impulse response functions from local projections using …. The effects on output and productivity tend to be magnified when tariffs rise during expansions, for advanced economies …, and when tariffs go up, not down. Our results are robust to a large number of perturbations to our methodology, and we …

negative direct effect of US tariffs on US imports from China, but (2) do not find evidence for significant short-run trade …

lower electricity prices Even with multiple market failures, emissions pricing remains the single most cost-effective option …Myriad policy measures aim to reduce greenhouse gas emissions from the electricity sector, promote generation from …