A Measurement of Aggregate Trade Restrictions and Their Economic Effects

A Measurement of Aggregate Trade Restrictions and Their Economic Effects

Author: Julia Estefania-Flores

Publisher: International Monetary Fund

Published: 2022-01-07

Total Pages: 65

ISBN-13: 1616359641

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We develop a new Measure of Aggregate Trade Restrictions (MATR) using data from the IMF’s Annual Report on Exchange Arrangements and Exchange Restrictions. MATR is an empirical measure of how restrictive official government policy is towards the international flow of goods and services. MATR is simple, ad hoc, plausible, quantitative, easily updated, based solely on policy-relevant measures of trade policy, and covers an unbalanced sample of up to 157 countries annually between 1949 and 2019. MATR is strongly correlated with, but more comprehensive than, existing measures of openness and trade policy existing measures. We use MATR to show that trade restrictions are harmful for the economy and lead to significant contractions in output.


Book Synopsis A Measurement of Aggregate Trade Restrictions and Their Economic Effects by : Julia Estefania-Flores

Download or read book A Measurement of Aggregate Trade Restrictions and Their Economic Effects written by Julia Estefania-Flores and published by International Monetary Fund. This book was released on 2022-01-07 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop a new Measure of Aggregate Trade Restrictions (MATR) using data from the IMF’s Annual Report on Exchange Arrangements and Exchange Restrictions. MATR is an empirical measure of how restrictive official government policy is towards the international flow of goods and services. MATR is simple, ad hoc, plausible, quantitative, easily updated, based solely on policy-relevant measures of trade policy, and covers an unbalanced sample of up to 157 countries annually between 1949 and 2019. MATR is strongly correlated with, but more comprehensive than, existing measures of openness and trade policy existing measures. We use MATR to show that trade restrictions are harmful for the economy and lead to significant contractions in output.


Measuring the Restrictiveness of International Trade Policy

Measuring the Restrictiveness of International Trade Policy

Author: James E. Anderson

Publisher: MIT Press

Published: 2005

Total Pages: 352

ISBN-13:

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Extending the standard theory of index numbers that apply to prices, output or productivity, Anderson and Neary develop index numbers that apply directly to policy variables. Their theoretical work builds on, and extends, the standard theory of policy reform in open economics.


Book Synopsis Measuring the Restrictiveness of International Trade Policy by : James E. Anderson

Download or read book Measuring the Restrictiveness of International Trade Policy written by James E. Anderson and published by MIT Press. This book was released on 2005 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Extending the standard theory of index numbers that apply to prices, output or productivity, Anderson and Neary develop index numbers that apply directly to policy variables. Their theoretical work builds on, and extends, the standard theory of policy reform in open economics.


Macroeconomic Consequences of Tariffs

Macroeconomic Consequences of Tariffs

Author: Davide Furceri

Publisher: International Monetary Fund

Published: 2019-01-15

Total Pages: 57

ISBN-13: 1484390067

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We study the macroeconomic consequences of tariffs. We estimate impulse response functions from local projections using a panel of annual data that spans 151 countries over 1963-2014. We find that tariff increases lead, in the medium term, to economically and statistically significant declines in domestic output and productivity. Tariff increases also result in more unemployment, higher inequality, and real exchange rate appreciation, but only small effects on the trade balance. The effects on output and productivity tend to be magnified when tariffs rise during expansions, for advanced economies, and when tariffs go up, not down. Our results are robust to a large number of perturbations to our methodology, and we complement our analysis with industry-level data.


Book Synopsis Macroeconomic Consequences of Tariffs by : Davide Furceri

Download or read book Macroeconomic Consequences of Tariffs written by Davide Furceri and published by International Monetary Fund. This book was released on 2019-01-15 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the macroeconomic consequences of tariffs. We estimate impulse response functions from local projections using a panel of annual data that spans 151 countries over 1963-2014. We find that tariff increases lead, in the medium term, to economically and statistically significant declines in domestic output and productivity. Tariff increases also result in more unemployment, higher inequality, and real exchange rate appreciation, but only small effects on the trade balance. The effects on output and productivity tend to be magnified when tariffs rise during expansions, for advanced economies, and when tariffs go up, not down. Our results are robust to a large number of perturbations to our methodology, and we complement our analysis with industry-level data.


A Practical Guide to Trade Policy Analysis

A Practical Guide to Trade Policy Analysis

Author: Marc Bacchetta

Publisher:

Published: 2012

Total Pages: 0

ISBN-13: 9789287038128

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Trade flows and trade policies need to be properly quantified to describe, compare, or follow the evolution of policies between sectors or countries or over time. This is essential to ensure that policy choices are made with an appropriate knowledge of the real conditions. This practical guide introduces the main techniques of trade and trade policy data analysis. It shows how to develop the main indexes used to analyze trade flows, tariff structures, and non-tariff measures. It presents the databases needed to construct these indexes as well as the challenges faced in collecting and processing these data, such as measurement errors or aggregation bias. Written by experts with practical experience in the field, A Practical Guide to Trade Policy Analysis has been developed to contribute to enhance developing countries' capacity to analyze and implement trade policy. It offers a hands-on introduction on how to estimate the distributional effects of trade policies on welfare, in particular on inequality and poverty. The guide is aimed at government experts engaged in trade negotiations, as well as students and researchers involved in trade-related study or research. An accompanying DVD contains data sets and program command files required for the exercises. Copublished by the WTO and the United Nations Conference on Trade and Development


Book Synopsis A Practical Guide to Trade Policy Analysis by : Marc Bacchetta

Download or read book A Practical Guide to Trade Policy Analysis written by Marc Bacchetta and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade flows and trade policies need to be properly quantified to describe, compare, or follow the evolution of policies between sectors or countries or over time. This is essential to ensure that policy choices are made with an appropriate knowledge of the real conditions. This practical guide introduces the main techniques of trade and trade policy data analysis. It shows how to develop the main indexes used to analyze trade flows, tariff structures, and non-tariff measures. It presents the databases needed to construct these indexes as well as the challenges faced in collecting and processing these data, such as measurement errors or aggregation bias. Written by experts with practical experience in the field, A Practical Guide to Trade Policy Analysis has been developed to contribute to enhance developing countries' capacity to analyze and implement trade policy. It offers a hands-on introduction on how to estimate the distributional effects of trade policies on welfare, in particular on inequality and poverty. The guide is aimed at government experts engaged in trade negotiations, as well as students and researchers involved in trade-related study or research. An accompanying DVD contains data sets and program command files required for the exercises. Copublished by the WTO and the United Nations Conference on Trade and Development


The Great Trade Collapse: Causes, Consequences and Prospects

The Great Trade Collapse: Causes, Consequences and Prospects

Author: Richard E. Baldwin

Publisher: CEPR

Published: 2009

Total Pages: 246

ISBN-13: 1907142061

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Book Synopsis The Great Trade Collapse: Causes, Consequences and Prospects by : Richard E. Baldwin

Download or read book The Great Trade Collapse: Causes, Consequences and Prospects written by Richard E. Baldwin and published by CEPR. This book was released on 2009 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt:


Methodology for Impact Assessment of Free Trade Agreements

Methodology for Impact Assessment of Free Trade Agreements

Author: Michael G. Plummer

Publisher: Asian Development Bank

Published: 2011-02-01

Total Pages: 194

ISBN-13: 9290921978

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This publication displays the menu for choice of available methods to evaluate the impact of Free Trade Agreements (FTAs). It caters mainly to policy makers from developing countries and aims to equip them with some economic knowledge and techniques that will enable them to conduct their own economic evaluation studies on existing or future FTAs, or to critically re-examine the results of impact assessment studies conducted by others, at the very least.


Book Synopsis Methodology for Impact Assessment of Free Trade Agreements by : Michael G. Plummer

Download or read book Methodology for Impact Assessment of Free Trade Agreements written by Michael G. Plummer and published by Asian Development Bank. This book was released on 2011-02-01 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication displays the menu for choice of available methods to evaluate the impact of Free Trade Agreements (FTAs). It caters mainly to policy makers from developing countries and aims to equip them with some economic knowledge and techniques that will enable them to conduct their own economic evaluation studies on existing or future FTAs, or to critically re-examine the results of impact assessment studies conducted by others, at the very least.


Changing Patterns of Global Trade

Changing Patterns of Global Trade

Author: Nagwa Riad

Publisher: International Monetary Fund

Published: 2012-01-15

Total Pages: 87

ISBN-13: 1463973101

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Changing Patterns of Global Trade outlines the factors underlying important shifts in global trade that have occurred in recent decades. The emergence of global supply chains and their increasing role in trade patterns allowed emerging market economies to boost their inputs in high-technology exports and is associated with increased trade interconnectedness.The analysis points to one important trend taking place over the last decade: the emergence of China as a major systemically important trading hub, reflecting not only the size of trade but also the increase in number of its significant trading partners.


Book Synopsis Changing Patterns of Global Trade by : Nagwa Riad

Download or read book Changing Patterns of Global Trade written by Nagwa Riad and published by International Monetary Fund. This book was released on 2012-01-15 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: Changing Patterns of Global Trade outlines the factors underlying important shifts in global trade that have occurred in recent decades. The emergence of global supply chains and their increasing role in trade patterns allowed emerging market economies to boost their inputs in high-technology exports and is associated with increased trade interconnectedness.The analysis points to one important trend taking place over the last decade: the emergence of China as a major systemically important trading hub, reflecting not only the size of trade but also the increase in number of its significant trading partners.


A Handbook of International Trade in Services

A Handbook of International Trade in Services

Author: Aaditya Mattoo

Publisher: Oxford University Press

Published: 2008

Total Pages: 675

ISBN-13: 019923521X

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This title provides a comprehensive introduction to the key issues in trade and liberalization of services. Providing a useful overview of the players involved, the barriers to trade, and case studies in a number of service industries, this is ideal for policymakers and students interested in trade.


Book Synopsis A Handbook of International Trade in Services by : Aaditya Mattoo

Download or read book A Handbook of International Trade in Services written by Aaditya Mattoo and published by Oxford University Press. This book was released on 2008 with total page 675 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title provides a comprehensive introduction to the key issues in trade and liberalization of services. Providing a useful overview of the players involved, the barriers to trade, and case studies in a number of service industries, this is ideal for policymakers and students interested in trade.


International Classification of Non-Tariff Measures 2019

International Classification of Non-Tariff Measures 2019

Author: United Nations

Publisher: United Nations

Published: 2019-10-14

Total Pages: 96

ISBN-13: 921004200X

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Non-tariff measures are generally defined as policy measures other than ordinary customs tariffs that can potentially have an economic effect on international trade in goods, changing quantities traded, or prices or both. Since this definition is broad, a detailed classification is of critical importance so as to better identify and distinguish among the various forms of non-tariff measures. The classification of non-tariff measures presented here is a taxonomy of all those measures considered relevant in international trade today. It builds on an old UNCTAD classification known as the Coding System of Trade Control Measures and was developed by several international organizations forming what is called the MAST group (Multi-Agency Support Team) set up to support the Group of Eminent Persons on Non-tariff Barriers established by the Secretary General of UNCTAD in 2006. The MAST team discussed and proposed this classification, and is composed of: FAO, IMF, ITC, OECD, UNCTAD, UNIDO, World Bank and WTO. The classification is seen as evolving and should adapt to the reality of international trade and data collection needs.


Book Synopsis International Classification of Non-Tariff Measures 2019 by : United Nations

Download or read book International Classification of Non-Tariff Measures 2019 written by United Nations and published by United Nations. This book was released on 2019-10-14 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: Non-tariff measures are generally defined as policy measures other than ordinary customs tariffs that can potentially have an economic effect on international trade in goods, changing quantities traded, or prices or both. Since this definition is broad, a detailed classification is of critical importance so as to better identify and distinguish among the various forms of non-tariff measures. The classification of non-tariff measures presented here is a taxonomy of all those measures considered relevant in international trade today. It builds on an old UNCTAD classification known as the Coding System of Trade Control Measures and was developed by several international organizations forming what is called the MAST group (Multi-Agency Support Team) set up to support the Group of Eminent Persons on Non-tariff Barriers established by the Secretary General of UNCTAD in 2006. The MAST team discussed and proposed this classification, and is composed of: FAO, IMF, ITC, OECD, UNCTAD, UNIDO, World Bank and WTO. The classification is seen as evolving and should adapt to the reality of international trade and data collection needs.


The Collapse of Global Trade, Murky Protectionism, and the Crisis

The Collapse of Global Trade, Murky Protectionism, and the Crisis

Author: Richard E. Baldwin

Publisher:

Published: 2011-03

Total Pages: 112

ISBN-13: 9781907142239

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The global financial crisis of 2008/9 is the Great Depression of the 21st century. For many though, the similarities stop at the Wall Street Crash as the current generation of policymakers have acted quickly to avoid the mistakes of the past. Yet the global crisis has made room for mistakes all of its own. While governments have apparently kept to their word on refraining from protectionist measures in the style of 1930s tariffs, there has been a disturbing rise in "murky protectionism." Seemingly benign, these crisis-linked policies are twisted to favour domestic firms, workers and investors. This book, first published as an eBook on VoxEU.org in March 2009, brings together leading trade policy practitioners and experts - including Australian Trade Minister Simon Crean and former Mexican President Ernesto Zedillo. Initially its aim was to advise policymakers heading in to the G20 meeting in London, but since the threat of murky protectionism persists, so too do their warnings.


Book Synopsis The Collapse of Global Trade, Murky Protectionism, and the Crisis by : Richard E. Baldwin

Download or read book The Collapse of Global Trade, Murky Protectionism, and the Crisis written by Richard E. Baldwin and published by . This book was released on 2011-03 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis of 2008/9 is the Great Depression of the 21st century. For many though, the similarities stop at the Wall Street Crash as the current generation of policymakers have acted quickly to avoid the mistakes of the past. Yet the global crisis has made room for mistakes all of its own. While governments have apparently kept to their word on refraining from protectionist measures in the style of 1930s tariffs, there has been a disturbing rise in "murky protectionism." Seemingly benign, these crisis-linked policies are twisted to favour domestic firms, workers and investors. This book, first published as an eBook on VoxEU.org in March 2009, brings together leading trade policy practitioners and experts - including Australian Trade Minister Simon Crean and former Mexican President Ernesto Zedillo. Initially its aim was to advise policymakers heading in to the G20 meeting in London, but since the threat of murky protectionism persists, so too do their warnings.