Self-Harming Trade Policy? Protectionism and Production Networks

IF 6.3 1区经济学 Q1 ECONOMICS

American Economic Journal-Macroeconomics Pub Date : 2023-04-01 DOI:10.1257/mac.20190445

Alessandro Barattieri, Matteo Cacciatore

引用次数: 1

Abstract

Using monthly data on temporary trade barriers (TTBs), we estimate the dynamic employment effects of protectionism through vertical production linkages. First, exploiting high-frequency data and TTB procedural details, we identify trade policy shocks exogenous to economic fundamentals. We then use input-output tables to construct measures of protectionism affecting downstream producers. Finally, we estimate panel local projections using the identified trade policy shocks. Protectionism has small and insignificant beneficial effects in protected industries. The effects in downstream industries are negative, sizable, and significant. The employment decline follows an increase in intermediate input and final goods prices and a decline in stock market returns. (JEL E24, F13, F14, F16, G14, L14)

查看原文本刊更多论文

自我伤害的贸易政策?保护主义与生产网络

利用临时贸易壁垒(TTBs)的月度数据，我们通过垂直生产联系估计了保护主义对就业的动态影响。首先，利用高频数据和TTB程序细节，我们确定了对经济基本面的外生贸易政策冲击。然后，我们使用投入产出表来构建影响下游生产者的保护主义措施。最后，我们使用确定的贸易政策冲击来估计面板本地预测。保护主义对受保护产业的有利影响很小，微不足道。对下游产业的影响是负面的、相当大的、显著的。就业下降之前，中间投入和最终产品价格上升，股市回报率下降。(jel e24, f13, f14, f16, g14, l14)

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

American Economic Journal-Macroeconomics ECONOMICS-

CiteScore

8.20

自引率

1.70%

发文量

期刊介绍： American Economic Journal: Macroeconomics focuses on studies of aggregate fluctuations and growth, and the role of policy in that context. Such studies often borrow from and interact with research in other fields, such as monetary theory, industrial organization, finance, labor economics, political economy, public finance, international economics, and development economics. To the extent that they make a contribution to macroeconomics, papers in these fields are also welcome.