Our work generates several insights related to the estimation of the impact of sanctions on trade and unveils new avenues for future work. For example, we find the strength of the negative impact of sanctions to rise with the duration of the time that sanctions are in force. Moreover, our ...
on the economy, forecasting a modest growth of 1.6% in 2021. The bank maintained it repo rate at 8.50%. The rate was last adjusted in February by 50 basis points to contain inflation, which maintained an upward trend in the second quarter rising to 23.5% from 22.2% in the first quarter...
Our paper contributes to the debate by discussing the impact of alternative policy instruments, i.e. taxes and quotas, on the optimal timing of emission reductions. A main conclusion is that the optimal adoption threshold under taxes is always larger than under quotas. Thus, in our model there...