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

of an agreement, which cuts tariffs by one percentage point, is 0.5% to 2% of consumption, much larger than in trade …

This paper studies the macroeconomic impact of higher tariffs using a two-country DSGE model with endogenous trade and … heterogeneous firms. The analysis consists of two scenarios. First, we assume that one country increases tariffs while the other … does not. Second, both countries raise tariffs. In the first case, the country that did not raise tariffs suffers an …

What is the optimal monetary policy response to tariffs? This paper explores this question within an open-economy New … direct effects of tariffs. This result holds regardless of whether tariffs apply to consumption goods or intermediate inputs …, whether the shock is temporary or permanent, and whether tariffs address other distortions …

The new US administration has a clear agenda of reducing imports to the US and attract FDI by reducing tariffs and … tariffs on the US and RoW economy. We model both the international supply linkages of domestic producers and subsidiaries of … effect of tariffs on the import to inward FDI sales ratio. We are in particular interested how the use of tariff revenues …

Incorporating weakly nonseparable preferences into the familiar time-preference model, we emphasize a role of steady …-state welfare changes in determining the effect of permanent tariffs on the current account. The effect consists of: a welfare … effect, due to steady-state welfare changes, which is negative (positive) when preferences toward imports are more (less …

shows that if liberalization involves reducing tariffs on imported intermediate inputs (a reform that has figured …