Jakubik, Adam; Piermartini, Roberta - 2019 - Manuscript date: 24 April 2019
This paper studies how WTO rules and flexibilities shape its members' trade policy responses to import shocks. Guided …-2011 period, we show that WTO commitments affect members' trade policy. More stringent bindings reduce the likelihood of … overall trade policy uncertainty. In a counterfactual scenario where WTO members can arbitrarily increase tariffs they are 4 …