NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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The Return to Protectionism

Pablo D. Fajgelbaum, Pinelopi K. Goldberg, Patrick J. Kennedy, Amit K. Khandelwal

NBER Working Paper No. 25638
Issued in March 2019, Revised in October 2019

---- Acknowledgments ----

Huifeng Chang, Jett Pettus, and Brian Pustilnik provided excellent research assistance. We thank the Editor, Pol Antras, and five anonymous referees. We thank Kyle Bagwell, Paul Krugman, Jonah Rockoff, Alan Spearot, Bob Staiger, and seminar participants at various seminars for helpful suggestions. We thank Andres Rodriguez-Clare, Andrew Bernard, and Linda Tesar for their conference discussions. We acknowledge funding from the National Science Foundation (NSF Grant 1529095). Kennedy acknowledges financial support from the National Science Foundation Graduate Research Fellowship Program. Khandelwal acknowledges support from The Council on Foreign Relations International Affairs Fellowship in International Economics, and thanks the World Bank for their hospitality. Goldberg is currently Chief Economist of the World Bank Group. Any opinions and conclusions expressed herein are those of the authors and do not necessarily represent the views of the World Bank Group or the National Bureau of Economic Research.

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