What does the macroeconomy look like in the aftermath of tariff changes? This study estimates impulse response functions from local projections using a panel of annual data that spans 151 countries from 1963 to 2014. Tariff increases are associated with persistent, economically and statistically significant declines in domestic output and productivity, as well as higher unemployment and inequality, real exchange rate appreciation, and insignificant...
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DETAILS
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2021/08/23
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Journal Article
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186299
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1
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2023/12/11
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Disclosed
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The Macroeconomy After Tariffs
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Citation
Davide Furceri; Swarnali A. Hannan; Jonathan D. Ostry; ROSE,ANDREW K..
The Macroeconomy After Tariffs (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/099956212082331009