Trade Policy Uncertainty
Trade policy uncertainty (TPU) has become an important source of economic uncertainty and research. We review the main sources and measures of TPU. We then provide a conceptual framework for modeling TPU and methods of estimating and quantifying its effects. We analyze its role in trade agreements and discuss open questions for future research.
We thank Gene Grossman for valuable suggestions and Xue Song for 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.
Kyle Handley & Nuno Limão, 2022. "Trade Policy Uncertainty," Annual Review of Economics, vol 14(1).