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US Economic Sanctions: Their Impact on Trade, Jobs, and Wages

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  • Gary Clyde Hufbauer

    ()
    (Peterson Institute for International Economics)

  • Kimberly Ann Elliott

    ()
    (Peterson Institute for International Economics)

  • Tess Cyrus

    (Peterson Institute for International Economics)

  • Elizabeth Winston

    (Peterson Institute for International Economics)

Abstract

Economic sanctions have resurfaced at the center of public policy debate. After a brief lull following the politically disastrous grain embargo and pipeline sanctions in the early 1980s, sanctions are once again the weapon of choice to enforce a myriad of US foreign policy goals, from countering terrorism to battling drug trafficking. A recent National Association of Manufacturers (1997) study lists over 30 countries hit by new US sanctions during the period 1993-1996. Many of these actions were unilateral, reducing their impact in an increasingly globalized economy that has many alternative suppliers and markets. High-publicity initiatives, such as the Helms-Burton Act and the Iran/Libya Sanctions Act, which threaten to punish third-country corporations that conduct business in Cuba, Iran, and Libya, also raise the possibility that frustrated OECD governments (such as Canada and France) will retaliate against US companies.

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Bibliographic Info

Paper provided by Peterson Institute for International Economics in its series Working Paper Series with number Working Paper Special (2).

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Date of creation: Apr 1997
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Handle: RePEc:iie:wpaper:wpsp-2

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Cited by:
  1. Sofronis Clerides & Peter Davis & Antonis Michis, 2010. "The Impact of the Iraq War on US Consumer Goods Sales in Arab Countries," Working Paper Series 25_10, The Rimini Centre for Economic Analysis.
  2. Hossein Askari & John Forrer & Hildy Teegen & Jiawen Yang, 2002. "Economic sanctions and US international business interests," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 55(220), pages 55-69.
  3. Anne-Célia Disdier & Lionel Fontagné, 2009. "Trade Impact of European Measures on GMOs Condemned by the WTO Panel," Working Papers 2009-16, CEPII research center.
  4. Paul Grauwe & Frauke Skudelny, 2000. "The impact of EMU on trade flows," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 136(3), pages 381-402, 09.
  5. Gary Clyde Hufbauer & Kimberly Ann Elliott, 1999. "Same Song, Same Refrain? Economic Sanctions in the 1990's," American Economic Review, American Economic Association, vol. 89(2), pages 403-408, May.
  6. Gary Clyde Hufbauer & Barbara Oegg, 2003. "The Impact of Economic Sanctions on US Trade: Andrew Rose's Gravity Model," Policy Briefs PB03-04, Peterson Institute for International Economics.
  7. Busse, Matthias, 2003. "Democracy and FDI," HWWA Discussion Papers 220, Hamburg Institute of International Economics (HWWA).
  8. Raul Caruso, 2003. "The Impact of International Economic Sanctions on Trade An empirical Analysis," International Trade 0306001, EconWPA.
  9. Sofronis Clerides & Peter Davis & Antonis Michis, 2013. "National Sentiment and Consumer Choice: The Iraq War and Sales of US Products in Arab Countries," Working Paper Series 41_13, The Rimini Centre for Economic Analysis.
  10. Gabriel Felbermayr & Erdal Yalcin & Philipp Grübener, 2014. "Ökonomische Aspekte des Russlandkonfliktes: Ursachen, Kosten, Optionen," Ifo Schnelldienst, Ifo Institute for Economic Research at the University of Munich, vol. 67(14), pages 35-43, 07.

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