Julia Estefania-Flores , Davide Furceri , Swarnali A. Hannan , Jonathan D. Ostry , Andrew K. Rose
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引用次数: 0
Abstract
We present a new Measure of Aggregate Trade Restrictions (MATR) using data from the IMF’s Annual Report on Exchange Arrangements and Exchange Restrictions. MATR is strongly correlated with existing measures of trade restrictiveness but more comprehensive in terms of country and time coverage. Our measure is available for an unbalanced sample of up to 157 countries during 1949–2019. We use our new MATR to re-examine how trade restrictiveness varies with the business cycle. Our results confirm that trade restrictions are typically a-cyclical but there is an important difference across income groups: aggregate trade restrictions are a-cyclical in advanced economies but are counter-cyclical in EMDEs, especially in response to increases in unemployment.
期刊介绍：
The Journal of Policy Modeling is published by Elsevier for the Society for Policy Modeling to provide a forum for analysis and debate concerning international policy issues. The journal addresses questions of critical import to the world community as a whole, and it focuses upon the economic, social, and political interdependencies between national and regional systems. This implies concern with international policies for the promotion of a better life for all human beings and, therefore, concentrates on improved methodological underpinnings for dealing with these problems.
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