This US survey examines (a) The experience of the past 10 years suggests that Western-led economic sanctions do not substantially deter the target countries from their course of action; (b) Had the G7 instituted a complete energy embargo in 2022, Russia's current military and economic position would be substantially worse; (c) Had the G7 instituted a complete energy embargo in 2022, the world economy would have faced substantially higher oil prices
Keyword: import restrictions
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This European survey examines (a) The experience of the past 10 years suggests that Western-led economic sanctions do not substantially deter the target countries from their course of action; (b) Had the G7 instituted a complete energy embargo in 2022, Russia's current military and economic position would be substantially worse; (c) Had the G7 instituted a complete energy embargo in 2022, the world economy would have faced substantially higher oil prices
This US survey examines: (a) Giving the President more direct influence over monetary policy would lead to substantially worse monetary policy decisions; (b) Imposing tariffs results in a substantial portion of the tariffs being borne by consumers of the country that enacts the tariffs, through price increases; (c) There is little empirical evidence that price gouging is causing high grocery prices; (d) Widespread use of price controls creates substantial economic distortions
This week's IGM Economic Experts Panel statements:
A) If all of the “Seven actions to protect American workers” in President-elect Trump’s 100-day plan (see link) are enacted, it will more likely than not improve the economic prospects of middle-class Americans over the next decade.
B) If all of the “Seven actions to protect American workers” in President-elect Trump’s 100-day plan are enacted, it will more likely than not improve the economic prospects of low-skilled Americans over the next decade.
This week's IGM Economic Experts Panel statement:
Adding new or higher import duties on products such as air conditioners, cars, and cookies — to encourage producers to make them in the US — would be a good idea.
This week’s IGM Economic Experts Panel statement:
Past experience suggests that economic sanctions do little to deter the target countries from their course of action.
This week’s IGM Economic Experts Panel statement:
Refusing to liberalize trade unless partner countries adopt new labor or environmental rules is a bad policy, because even if the new standards would reduce distortions on some dimensions, such a policy involves threatening to maintain large distortions in the form of restricted trade.
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