Bagwell, Kyle; Staiger, Robert - In: Advances in Economic Analysis & Policy 3 (2003) 1, pp. 1139-1139
protection and the business cycle. Focusing on self-enforcing trade agreements, we find theoretical support for countercyclical … movements in protection levels. The fast growth in trade volume that is associated with a boom phase facilitates the maintenance … acyclic increases in the level of trade volume give rise to protection, implying that whether rising imports are met with …