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Reordering international trade: what will it cost?


  • Rasa Stasiukynaite

    () (Bank of Lithuania)


This paper overviews early research which has gone into the possible effects of the recent tensions in international trade. We have witnessed the increase and the promises of future increase in tariffs, in the case of the new trade policy of the US, and the promises of the future increase in the non-tariff barriers (possibly even tariffs) in the UK’s decision to leave the EU. The focus in the research is mostly on trade policy and on the results, insights, and conclusions, while the discussion on the econometric specification or estimation of the models is out of scope.

Suggested Citation

  • Rasa Stasiukynaite, 2019. "Reordering international trade: what will it cost?," Bank of Lithuania Occasional Paper Series 27, Bank of Lithuania.
  • Handle: RePEc:lie:opaper:27

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    References listed on IDEAS

    1. Raju Huidrom & Nemanja Jovanovic & Carlos Mulas-Granados & Laura Papi & Faezeh Raei & Emil Stavrev & Philippe Wingender, 2019. "Trade Tensions, Global Value Chains, and Spillovers; Insights for Europe," IMF Departmental Papers / Policy Papers 19/10, International Monetary Fund.
    2. Harald Oberhofer & Michael Pfaffermayr, 2017. "Estimating the Trade and Welfare Effects of Brexit: A Panel Data Structural Gravity Model," CESifo Working Paper Series 6828, CESifo.
    3. Wen Chen & Bart Los & Philip McCann & Raquel Ortega‐Argilés & Mark Thissen & Frank van Oort, 2018. "The continental divide? Economic exposure to Brexit in regions and countries on both sides of The Channel," Papers in Regional Science, Wiley Blackwell, vol. 97(1), pages 25-54, March.
    4. Ralph Ossa, 2014. "Trade Wars and Trade Talks with Data," American Economic Review, American Economic Association, vol. 104(12), pages 4104-4146, December.
    5. Bekkers, Eddy & Teh, Robert, 2019. "Potential economic effects of a global trade conflict: Projecting the medium-run effects with the WTO global trade model," WTO Staff Working Papers ERSD-2019-04, World Trade Organization (WTO), Economic Research and Statistics Division.
    6. Alessandro Barattieri & Matteo Cacciatore & Fabio Ghironi, 2018. "Protectionism and the Business Cycle," NBER Working Papers 24353, National Bureau of Economic Research, Inc.
    7. Sébastien Jean & Philippe Martin & André Sapir, 2018. "International trade under attack- what strategy for Europe?," Policy Contributions 27078, Bruegel.
    8. Mark N. Harris & László Kónya & László Mátyás, 2012. "Some Stylized Facts about International Trade Flows," Review of International Economics, Wiley Blackwell, vol. 20(4), pages 781-792, September.
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    international trade; tariffs; gains from trade; protectionism; trade policy; Brexit;

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