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The World Trade Organization—backbone of today's international commercial relations—requires member countries to self-enforce exporters' access to foreign m
Tariff Retaliation Versus Financial Compensation in the Enforcement of International Trade Agreements
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"The authors analyze whether financial compensation is preferable to the current system of dispute settlement in the World Trade Organization that permits membe
Macroeconomic Consequences of Tariffs
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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 co
Enforcing International Law
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Until recently, the fundamental link between two basic concepts in international law, namely the right to self-help and the obligation to settle disputes by pea
The Economics of the World Trading System
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World trade is governed by the rules of the World Trade Organization (WTO), the successor to the General Agreement on Tariffs and Trade (GATT). The WTO sets rul