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A theory is appropriate as long as it fits into the fact; when a theory doesn't fit in the fact, it's wise to walk with the fact.

Friday, February 8, 2013

Trade policy and macroeconomic shocks

New evidence on the relationship between trade policy and macroeconomic shocks confirms that emerging-economy trade policy has become more responsive - tying variable protection - to economics shocks under the WTO.

Link on the issue. 
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