they willmove towards free trade, while providing some flexibility for trading offreductions in peak tariffs against …

WTO negotiations deal predominantly with bound - besides applied - tariff rates. But, how can reductions in tariffs … from the real options literature; doing so we highlight the important role of bound tariffs at the extensive margin of … trade. We find that bound tariffs are more effective with higher risk destination markets, that a large binding overhang may …

Market access negotiations in merchandise trade at the multilateral level cover tariffs and non-tariff measures (NTMs …). While tariffs have been substantially reduced in earlier rounds, they remain high in certain areas and further reductions …

WTO negotiations deal predominantly with bound - besides applied - tariff rates. But, how can reductions in tariffs … from the real options literature; doing so we highlight the important role of bound tariffs at the extensive margin of … trade. We find that bound tariffs are more effective with higher risk destination markets, that a large binding overhang may …

in a given sector is affected by past reductions in applied tariffs. Employing an identification strategy based on 'new … measures', we find evidence of a substitution of non-tariff measures for tariffs both in the sample of TBT and in the sample of …. These results are consistent with our theoretical model, which predicts policy substitution between tariffs and standards in …

nominal income. With all the conflicting effects of import tariffs on welfare considered, the optimal degree of reciprocity in …

to the elimination of tariffs and cuts in non-tariff measures by 25%, is in the range of 1% to 4% of initial consumption …