Foreign-owned manufacturing firms' shares of U.S. trade grew from almost nothing in the 1960s to 7 or 8 per cent of trade in manufactured goods by the 1980s. It has changed little in the past decade, except for fluctuations related to changing U.S. exchange rates. Foreign-owned firms are less...

We estimate the uncertainty effects of preferential trade disagreements. Increases in the probability of Britain's exit from the European Union (Brexit) reduce bilateral export values and trade participation. These effects are increasing in trade policy risk across products and asymmetric for UK...

Recently competition policy has become an important trade policy issue, since many policy makers now see competition policy as an important instrument to secure market access' to foreign markets. This paper analyzes this issue both from a theoretical point of view and from the review of the...

This paper is an assessment of three tilts in U.S. trade policy during the 1980s: minilateralism, managed trade, and Congressional activism. It describes their economic and political causes, and whether or not alternative policy directions might have been possible. Taking as given the...

This paper presents a comprehensive but relatively brief historical survey of U.S. trade-policy over the last 75 years. It is aimed at individuals who are not already familiar with the concepts and terminology used in discussions of trade policy and the domestic and international institutional...

The Constitution of 1787 was designed to give Congress powers over trade policy that it lacked under the Articles of Confederation. The Washington administration was split over whether to use these powers to raise revenue or to retaliate against Britain's discriminatory trade policies. Obsessed...

This paper examines the effect of a change in U.S. trade policy on the domestic investment of U.S. manufacturers. Using a difference-in-differences identification strategy, we find that industries more exposed to reductions in import tariff uncertainty exhibit relative declines in investment...

We examine the sensitivity of simple calibration models of trade in imperfectly competitive industries to changes in model specification, as well as to changes in the calibration parameters. We find that not just the magnitude, but also the sign of the optimal trade policies is very sensitive to...

The purpose of this paper is to describe United States trade policy since World War II, and to assess the possibility for ongoing U.S.trade-policy leadership. U.S. trade policy has shown remarkable consistency since World War II. It has never been as purely free-trade-focussed as some...

We apply a modified 'gravity model' incorporating measures of factor endowments to analyze Japanese and U.S. bilateral trade flows and direct foreign investment positions with a sample of around 100 countries for the period 1985-1990. Country features that our analysis takes into account are...