We study the effects of unexpected changes in trade policy uncertainty (TPU) on the U.S. economy. We construct three measures of TPU based on newspaper coverage, firms' earnings conference calls, and aggregate data on tari rates. We document that increases in TPU reduce investment and activity...

The paper aims to examine policy-anchor hypotheses by analysing the impact of WTO accession process on domestic economic policies and institutions of newly acceded WTO members. It shows that the process of obtaining WTO membership, under certain circumstances, can lead to a positive improvement...