While broad economic sanctions have long been used as instruments of foreign policy, targeted sanctions focusing on specific individuals, entities, and transactions are relatively new and less understood. We present a model of firm performance under sanctions where the target government may be...

Under extraterritorial sanctions the sanctioning country extends its policies to trade of third countries with the sanctioned country. A prominent example is former US President Trump's decision to leave the Joint Comprehensive Plan of Action (JCPOA), a multilateral agreement with Iran. The...

The Constitution of the United States is one of limited powers. The federal government has the authority to do only those things the Constitution says it can do. Over the centuries, the General Welfare Clause has been used as justification to expand federal power. However, if one were to apply...

Although international sanctions are a widely used instrument of coercion, their economic effects are still not fully understood. This study uses a novel dataset and an event study approach to evaluate the economic consequences of international sanctions, thereby accounting for pre-treatment...

Although international sanctions are a widely used instrument of coercion, their economic effects are still not fully understood. This study uses a novel dataset and an event study approach to evaluate the economic consequences of international sanctions, thereby accounting for pre-treatment...