We show how incumbent firms shape international trade (🧵linked below).
Some implications: The timing of trade liberalization matters, and the planned surge in US tariffs can have long-lasting effects, even if tariffs are temporary. 1/5
doi.org/10.1093/jeea...
We show how incumbent firms shape international trade (🧵linked below).
Some implications: The timing of trade liberalization matters, and the planned surge in US tariffs can have long-lasting effects, even if tariffs are temporary. 1/5
doi.org/10.1093/jeea...
doi.org/10.1093/jeea...