. The effects on output and productivity tend to be magnified when tariffs rise during expansions, for advanced economies …We study the macroeconomic consequences of tariffs. We estimate impulse response functions from local projections using …, to economically and statistically significant declines in domestic output and productivity. Tariff increases also result …

. The effects on output and productivity tend to be magnified when tariffs rise during expansions, for advanced economies …We study the macroeconomic consequences of tariffs. We estimate impulse response functions from local projections using …, to economically and statistically significant declines in domestic output and productivity. Tariff increases also result …

. The effects on output and productivity tend to be magnified when tariffs rise during expansions, for advanced economies …We study the macroeconomic consequences of tariffs. We estimate impulse response functions from local projections using …, to economically and statistically significant declines in domestic output and productivity. Tariff increases also result …

This paper employs newly constructed measures for productivity differentials, external imbalances, and commodity terms …-based real exchange rate and commodity terms of trade. The estimated impact of productivity growth differentials between traded …