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A possible re-election of Donald Trump as US president in November 2024 could entail a significant upheaval for the world trading order, if he fulfills his announcements to raise tariffs, mainly in order to reduce the US trade deficit. Such steps would not only have a negative effect on the...
Persistent link: https://www.econbiz.de/10014485451
Die anstehenden US-Präsidentschaftswahlen sind wegweisend. Sollte Donald Trump wiedergewählt werden, hat er im Bereich der Handelspolitik umfangreiche Zollerhöhungen - auch gegenüber der Europäischen Union (EU) - angedroht. Die EU hat angekündigt, im Zweifel mit eigenen Vergeltungszöllen...
Persistent link: https://www.econbiz.de/10015078457
We calibrate a standard New Keynesian model with three alternative representations of monetary policy- an optimal timeless rule, a Taylor rule and another with interest rate smoothing- with the aim of testing which if any can match the data according to the method of indirect inference. We find...
Persistent link: https://www.econbiz.de/10010288782
In this paper, we investigate the scale of the drop in American imports after it imposed punitive tariffs on Chinese goods. Our analysis spans the whole period of Donald Trump's presidency (January 2017 - January 2021). In contrast to existing studies, which are mainly devoted to the impact of...
Persistent link: https://www.econbiz.de/10014339778
Media pundits and some politicians would have us believe that industrial production has been declining in the United States. Some would even say that “we don't make things anymore.” However, the statistics show a different picture. This paper examines the trade statistics for the United...
Persistent link: https://www.econbiz.de/10012963810
We measure export participation rates in the U.S. manufacturing sector using a new administrative dataset and compare them to participation rates constructed from the commonly used Census of Manufacturers (CM). Both at the establishment and firm level export participation rates are near 40...
Persistent link: https://www.econbiz.de/10013537758
exports. Using confidential firm-trade linked data, we show that the decline in imports of tariffed goods was driven by … firms to their exported products. We find that the most exposed products had lower exports in 2018-2019, with most of the …
Persistent link: https://www.econbiz.de/10014337835
We review theoretical and empirical work on the economic effects of the United States and China trade relations during the last decades. We first discuss the origins of the China shock, its measurement, and present methods used to study its economic effects on different outcomes. We then focus...
Persistent link: https://www.econbiz.de/10013361989
We evaluate potential global impacts of increase in U.S. natural gas exports as a result of the shale gas boom. To our … exports rise. The overall U.S. results mirror the global ones, but the magnitude of income gains depends upon how the rate of … increase and level of exports are determined, and the price elasticity of natural gas supply. The U.S. benefits more when …
Persistent link: https://www.econbiz.de/10013058183
Persistent link: https://www.econbiz.de/10003364898