This research analyses the different scenarios for the trade relationship between the UK and the EU after Brexit. It analyses three possible models and covers ten years after Brexit. The first one, using the comparative methodology, examines the possibility and consequences of reaching a deal...

Rationale A geopolitical fragmentation of world trade, i.e. the emergence of two blocs that restrict trade with countries in the other bloc, has recently become a more likely prospect. How does this geopolitical risk affect the trade and economic outlook for Latin America and the Caribbean?...

Evolving openness to trade is hard to measure, despite its relevance to models of growth, inflation and exchange rates. Our innovative technique measures trade openness encompassing both observable trade policy (tariffs and surcharges) and unobservable trade policy (quotas and other nontariff...

This paper develops a method for decomposing changes in agricultural producer prices. The method builds on a procedure used by the World Bank, with the key variables in the decomposition being trade prices, exchange rates, and agricultural trade policies. The main ways by which we expand on the...

The theoretical debate over whether countries can and should set tariffs in response to the foreign export elasticities they face goes back to Edgeworth (1894). Despite the centrality of the optimal tariff argument in trade policy, there exists no evidence about whether countries actually...

Replaced with revised version of paper 07/24/09.

Global food commodity price inflation beginning in 2006 and continuing through mid-2008 became a priority concern for global consumers, producers and policy-makers alike. In response, many governments across the world implemented policies targeting high food commodity prices in their domestic...

This study objective at investigating the Brazilian soybean complex in the period 1990 to 2006, using the theoretical model of Brander-Spencer (1984) and the instrument of strategies based on game theory. The methodology used to estimate the payoffs of the game between Brazil and the United...

Rice is Indonesia’s staple food and accounts for large shares of both consumers’ budgetsand total employment. Until recently, Indonesia was the world’s largest importer, butrice import policy is now highly protectionist. Since early 2004, rice imports have beenofficially banned. Advocates...

We study the implications of loss aversion for trade policy determination and show how it allows us to explain a number of important and puzzling features of trade policy. An important question concerning trade policy is why a disproportionate share of protection goes to declining industries. We...