Recent quantitative trade models treat import tariffs as pure cost shifters so that their effects are similar to … iceberg trade costs. We introduce revenue-generating import tariffs, which act as demand shifters, into the framework of … quantification based on countries’ observed degrees of openness, tariff revenues, and on the gravity elasticities of tariffs and …

This paper shows how a world price shock can increase the likelihood that democratization must be used to resolve the … threat of revolution. Initially, a ruling elite may be able to use trade policy to maintain political stability. But a world … resolve. Because the world price shock may also reduce average incomes, the model provides a way to understand why the level …

The world economy has become more open and integrated in recent years. Countries are more engaged in international … mind when they talk about the 'internalisation' or 'globalisation' of the world economy. While the general trend toward … disagreement on whether all this is on balance good or bad - for the world economy and for individual countries and their citizens …

maintain the status quo in the face of world price shocks, thus opening the door to a re-examination of trade policy responses …

Median voter theory applied to trade policy predicts positive tariffs in capital-abundant countries and negative … tariffs in labor-abundant countries. Negative tariffs are rare, and this paper reconciles the median voter theory with … component and a positive in terms of trade component. Positive terms of trade effects raise tariffs in all countries, and can …