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The specification of the world closure, i.e. the way of closing the domestic economy model by incorporating the … all countries. This paper looks explicitly at the assumptions concerning the trade behaviour of the rest of the world that … world's export supply function in which a constant finite price elasticity is introduced. The second change concerns the …
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commitments ; tariff volatility ; trade policy uncertainty ; World Trade Organization ; trade agreements …
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governments' policy preferences. Theory can then further identify market characteristics for which liberalization is most likely …
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