Policy Uncertainty, Trade and Welfare: Theory and Evidence for China and the U.S.
---- Acknowledgements ----
We thank Stephanie Aaronson, Helia Costa, Lauren Deason, Rafael Dix-Carneiro, Gisela Rua, Jagadeesh Sivadasan and participants at the WAITS conference, Lisbon meeting on Institutions and Political Economy, Western Michigan University and University of Michigan for useful comments. Jeronimo Carballo provided excellent research assistance. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.