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Using both the onset of the US-China trade war in 2018 and the most recent Russia-Ukraine war and associated trade …
Persistent link: https://www.econbiz.de/10014576650
We argue that the welfare gains from trade in new models with micro-level margins exceed those in frameworks without these margins. Theoretically, we show that for fixed trade elasticity, different models predict identical trade flows, but different patterns of micro-level price variation. Thus,...
Persistent link: https://www.econbiz.de/10012458172
imports in an effort to force other countries to revalue their currencies against the dollar. The import surcharge was lifted …, economic, and legal issues surrounding the import surcharge. This historical episode may shed light on the possible use of …
Persistent link: https://www.econbiz.de/10012460910
We study international trade and macroeconomic dynamics triggered by the imposition of sanctions. We begin with a tractable two-country model where Home and Foreign countries have comparative advantages in production of differentiated consumption goods and a commodity (e.g., gas), respectively....
Persistent link: https://www.econbiz.de/10014512042
International economic integration yields large potential welfare effects, even in a static constant returns competitive world economy. Our method is novel. The effect of border barriers on trade flows is often inferred from gravity models. But their rather atheoretic structure precludes welfare...
Persistent link: https://www.econbiz.de/10012470203
This paper examines the long-run economic consequences of Western sanctions on Russia. Using a new framework for … are allowed to adjust --- 1.4 times larger for Russia and 2.2 times larger for Eastern Europe. This is contrary to the …
Persistent link: https://www.econbiz.de/10015326499
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 …
Persistent link: https://www.econbiz.de/10013477220
The COVID-19 pandemic as well as the Russian invasion of Ukraine have had profound effects on the global energy landscape, with some of the longer-lasting effects still unfolding. This paper discusses how these events have reshaped the supply side of the global oil market by focusing on...
Persistent link: https://www.econbiz.de/10014322883
limiting exports to Russia. The economic intuition is that when Russians are unable to buy the mix of foreign goods they wish … import from non-sanctioning countries. We also review well-known forces for a depreciation (e.g. Russian export reduction …
Persistent link: https://www.econbiz.de/10013191024
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 …
Persistent link: https://www.econbiz.de/10013191038