Acharya, Viral V.; Jiang, Zhengyang; Richmond, Robert; … - 2022
We analyze the role of international trade and health coordination during a pandemic by developing a two-economy, two … inefficiently high tariffs that peak with the pandemic in the foreign economy. This distorts terms-of-trade dynamics and magnifies … the welfare costs during a pandemic, featuring lower levels of consumption and production, as well as smaller gains via …