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Excited to share a new working paper:
The Macroeconomic Effects of Tariffs: Insights from 180 Years of U.S. Trade Policy
joint with my fantastic student @tamardenbesten and fabulous co-authors at the SF Fed: Régis Barnichon & Aayush Singh
Thread below👇
Using 180 years of US data to show that tariff increases reduce imports, output, and manufacturing, with effects operating through both supply and demand channels, from Tamar den Besten, Regis Barnichon, @drkaenzig, and Aayush Singh nber.org/papers/w35102
