uncertainty can delay investment and reduce the response to policy change. I provide theoretical and novel quantitative evidence … for these effects by focusing on trade policy, a ubiquitous but often overlooked source of uncertainty, when a firm's cost … market access, little theoretical and empirical work analyzes the value of WTO institutions for reducing uncertainty for …

I provide novel evidence for the impact of trade policy uncertainty on exporters. In a dynamic, heterogeneous firms … model, trade policy uncertainty will delay the entry of exporters into new markets and make them less responsive to applied … tariff reductions. Policy instruments that reduce or eliminate uncertainty, such as binding trade policy commitments at the …