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 …

cost. Firms are heterogeneous in terms of managerial efficiency but homogenous in terms of production productivity. The …

. Globalization is shown to induce heterogeneous responses across firms in terms of scope and productivity, some of which are …