About the WTO
Applying import-adjustmed demand methodology to trade analysis during the COVID-19 crisis
Mar 2022
Working Paper
In this paper, we estimated the standard (macro-economic) import equation over the period 1995-2021Q2, using an import intensity-adjusted measure of aggregate demand (IAD) calculated from input-output tables at country level, and compared the results with regressions using GDP. Initially introduced by Bussière (2013), this "synthetic" concept of IAD was perfected, inter alia, by the IMF (2016) and by us (2017), with a view to explaining the "missing" trade flows unpredicted by GDP-based import models during the trade collapse of 2009 and subsequent recovery from it.
A Global Framework for Climate Mitigation Policies
Mar 2024
Working Paper
We explore a global carbon pricing framework to inform the potential coordination of carbon pricing and equivalent policies. The framework has three main features aligning with the current multilateral system for climate action. First, the carbon price is determined by a global average carbon price to achieve emission reductions required to remain on a 1.5-2 degrees Celsius global warming trajectory.
Tariff spillovers and new rules for multilateral tariff negotiations
Feb 2024
Working Paper
Some countries have voiced unease about differences between their own tariff rates and those of major trading partners, calling for more ”reciprocity”. These calls raise the question how large the negative spillover effects of countries’ tariffs on others have become over time.
The Trade Effects of a New Agreement on Services Domestic Regulation
Feb 2024
Working Paper
In this paper, we project the impact of the implementation of a Joint Statement Initiative (JSI) on Services Domestic Regulation (SDR). We proceed in three steps. First, we include the WTO SDR Index, a binary score of SDR implementation in 23 sectors and 86 economies, in a gravity equation, estimated with the balance of payments services trade. We take into account domestic services trade to identify the impact of the importer-specific SDR Index by interacting the SDR Index with a border dummy, following an established methodology in the gravity literature.