Jadrian, could you point us in the direction of an economist who represents the 2% of the Clark Center panel who disagrees that the trade war will lead to slower growth. I would love to hear their rationale. All I hear today are soundbites from the MAGA crowd who probably hadn't heard of a tariff before a year ago. I would truly enjoy thinking through the other perspective. Thanks in advance!
The Clark Center provides individual responses and allows the person to provide comments. For the "tariffs raise prices" question, here were the following "alternative" votes:
Daron Acemoglu (Uncertain) – Likely true, but depends on demand and supply elasticities as well as whether tariffs affect markups. Also depends on whether tariffs can change production structure and impact efficiency in the medium run, à la infant industry arguments. The evidence is still not fully clear.
Dirk Bergemann (Disagree) – The effect of the tariff depends on the condition of the supply. If the products are offered competitively by many countries, then the effect on domestic consumer is likely to be small.
Jadrian, could you point us in the direction of an economist who represents the 2% of the Clark Center panel who disagrees that the trade war will lead to slower growth. I would love to hear their rationale. All I hear today are soundbites from the MAGA crowd who probably hadn't heard of a tariff before a year ago. I would truly enjoy thinking through the other perspective. Thanks in advance!
The Clark Center provides individual responses and allows the person to provide comments. For the "tariffs raise prices" question, here were the following "alternative" votes:
Daron Acemoglu (Uncertain) – Likely true, but depends on demand and supply elasticities as well as whether tariffs affect markups. Also depends on whether tariffs can change production structure and impact efficiency in the medium run, à la infant industry arguments. The evidence is still not fully clear.
Dirk Bergemann (Disagree) – The effect of the tariff depends on the condition of the supply. If the products are offered competitively by many countries, then the effect on domestic consumer is likely to be small.
Thank you!
"If the products are offered competitively by many countries..." [unless the tariffs are levied against all those countries!]