F62 - Macroeconomic Impacts

• The Impact of a Trade War: Assessment of the Current Tariffs and Alternative Scenarios

  Staff Analytical Note 2019-20 Karyne B. Charbonneau

  This note uses Charbonneau and Landry’s (2018) framework to assess the direct impact of the current trade tensions on the Canadian and global economies, as well as possible implications if the conflict escalates further. Overall, my findings show that the estimated impact of current tariffs on real gross domestic product (GDP) remains relatively small, which is in line with the literature on gains from trade, but the impact on trade is much larger.

  Content Type(s): Staff Research, Staff Analytical Notes Topic(s): Recent economic and financial developments, Trade Integration JEL Code(s): F, F1, F11, F13, F14, F15, F5, F50, F6, F62, F68

• The Trade War in Numbers

  Staff Working Paper 2018-57 Karyne B. Charbonneau, Anthony Landry

  We build upon new developments in the international trade literature to isolate and quantify the long-run economic impacts of tariff changes on the United States and the global economy.

  Content Type(s): Staff Research, Staff Working Papers Topic(s): Recent economic and financial developments, Trade Integration JEL Code(s): F, F1, F11, F13, F14, F15, F5, F50, F6, F62, F68

• Estimating the Impacts of Tariff Changes: Two Illustrative Scenarios

  Staff Analytical Note 2018-29 Karyne B. Charbonneau, Anthony Landry

  We build upon new developments in the international trade literature to construct a quantitative Ricardian framework similar to Caliendo and Parro (2015) to isolate and estimate the long-run economic impacts of tariff changes.

  Content Type(s): Staff Research, Staff Analytical Notes Topic(s): Recent economic and financial developments, Trade Integration JEL Code(s): F, F1, F11, F13, F14, F15, F5, F50, F6, F62, F68

• Understanding the Cross‐Country Effects of US Technology Shocks

  Staff Working Paper 2017-23 Thuy Lan Nguyen, Wataru Miyamoto

  Business cycles are substantially correlated across countries. Yet most existing models are not able to generate substantial transmission through international trade. We show that the nature of such transmission depends fundamentally on the features determining the responsiveness of labor supply and labor demand to international relative prices.

  Content Type(s): Staff Research, Staff Working Papers Topic(s): Business fluctuations and cycles, Economic models, International topics JEL Code(s): E, E3, E30, F, F4, F41, F44, F6, F62