This paper studies the effects of trade policy uncertainty on the extensive and the intensive margins of trade for a sample of 149 exporters at the HS6 digit level. We measure trade policy uncertainty as the gap between binding tariff commitments under trade agreements (multilateral and regional...

The paper undertakes a cost-benefit analysis of Afghanistan's accession to the WTO while attempting to shed light on the post-WTO accession challenges. For our empirical analysis we have applied the WITS/SMART model to assess the implication of the WTO membership. A cut in tariffs is the...

This paper uses the initial phase of the COVID-19 pandemic to examine how macroprudential frameworks developed over the past decade performed during a period of heightened financial and economic stress. It discusses a new measure of the macroprudential stance that better captures the intensity...