, calling for more "reciprocity". These calls raise the question how large the negative spillover effects of countries' tariffs … of tariffs and (ii) explore possible tariff liberalization rules and their economic effects, employing the WTO Global … Trade Model. We measure the spillover effects of tariffs by the export or terms of trade losses incurred by trading partners …

Historically, tariffs have been an attractive policy tool to protect domestic industries. The benefits of such a policy …

infinite future. In this paper I analyze the setting of tariffs in a two-country model taking account of adjustment processes … induces policy makers with a short planning horizon to set lower tariffs because it enhances the short run boom following a … cut in tariffs. Monetary policy that aggressively fights deviations from its inflation target leads to even lower tariffs. …