WTO negotiations deal predominantly with bound - besides applied - tariff rates. But, how can reductions in tariffs … from the real options literature; doing so we highlight the important role of bound tariffs at the extensive margin of … trade. We find that bound tariffs are more effective with higher risk destination markets, that a large binding overhang may …

in which traders operate.Binding tariffs at the WTO reduces the scope for their discretionary use. But, countries have … bound tariffs at ceiling levels often substantially above the level of applied tariffs. Therefore, whether the ceiling rate …. Using a recently built database on applied tariffs covering over 100 countries for the period 1996 to 2009, we find evidence …

developing country industrial tariffs, constrain thisvariability. We examine the theoretical effects of such constraints on the …

they willmove towards free trade, while providing some flexibility for trading offreductions in peak tariffs against …