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propagated abroad. In previous work, we built on the theory of rational bubbles to develop a framework to think about the origins …
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propagated abroad. In previous work, we built on the theory of rational bubbles to develop a framework to think about the origins …
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Do negotiated tariffs under the WTO deviate significantly from the first-best agreement? If so, why? To answer these questions, we consider two potential causes of deviation from the first-best in WTO negotiations: (i) a free-riding problem that may be caused by the WTO's nondiscrimination...
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