During much of the previous era of globalization, from the 1860s until the First World War, U. S. tariffs were surprisingly high. Present-day economic historians have suggested that U. S. protection as the result of a backlash against globalization that was the beginning of its decline. They...

This paper quantitatively assesses likely changes in market access opportunities for Indian exports owing to tariff reductions by the USA. The study identifies particular products for India at the ISIC 4-digit level of disaggregation, which could be considered tariff sensitive. Regression...

Economic integration in South Asia is governed by India's relations with the other economies of the region and it is also at the helm of all trade facilitation and transit issues of the region. Concessions given by India under SAFTA for LDCs have greatly benefitted Bangladesh and concessions to...

This paper develops a small-scale two country model following the New Open Economy Macroecoenomics paradigm. Under autarky the model specializes to the familiar three equation New Keynesian dynamic stochastic general equilibrium (DSGE) model. We discuss two challenges to successful estimation of...

If firms borrow working capital to finance production, then nominal interest rates have a direct influence on inflation dynamics, which appears to be the case empirically. However, interest rates may only partly mirror the cost of working capital. In this paper we explore the role of bank...