Exchange rate misalignments and international trade policy: impacts on tariffs

The debate on “exchange wars and trade wars” is raising the attention of experts on international trade and economics. The main purpose of this paper is to analyze the impacts of exchange rate misalignments on one of the most traditional trade policy instruments – tariffs, as defined by the WTO – World Trade Organization. It is divided into three sections: the first one examines the effects of exchange rate variations on tariffs and its consequences for the multilateral trade system; the second explains the methodology used to determine exchange rate misalignments and also presents its results for Brazil, US and China; and the third summarizes the methodology applied to calculate the impacts of exchange rate misalignments on the level of tariff protection through an exercise of “misalignment tariffication”

Two essays on education and governament policies

Whether human capital increases or decreases wage uncertainty is an open ques- tion from an empirical standpoint. Yet, most policy prescriptions regarding human capital formation are based on models that impose riskiness on this type of invest- ment. We slightly deviate from the rest of the literature by allowing for non-linear income taxes in a two period model. This enables us to derive prescriptions that are robust to the risk characteristics of human capital: savings should be discouraged, human capital investments encouraged and both types of investment driven to an e¢ cient level from an aggregate perspective. These prescriptions are also robust to what choices are observed, even though the policy instruments used to implement them are not.

The risk-properties of human capital and the design of government policies

Whether human capital increases or decreases wage uncertainty is an open question from an empirical standpoint. Yet, most policy prescriptions regarding human capital formation are based on models that impose riskiness on this type of investment. In a two period and finite type optimal income taxation problem we derive prescriptions that are robust to the risk characteristics of human capital: savings should be discouraged, human capital investments encouraged and both types of investment driven to an efficient level from an aggregate perspective. These prescriptions are also robust to the assumptions regarding what choices are observed, despite policy instruments being not.

Instrumentos de políticas ambientais, casos de aplicação e seus impactos

O estudo realiza uma discussão teórica sobre os instrumentos tradicionais de política ambiental, como as regulações e os incentivos econômicos. Depois, ele relata os novos avanços para tratar a complexidade das mais urgentes pressões sobre o meio ambiente: o uso apropriado de pacotes de políticas e os acordos negociados. O trabalho analisa alguns casos de aplicação dos instrumentos de políticas ambientais, levando em consideração seus impactos.

Rules of origin: an unfinished negotiation

Many countries are also engaged in trade negotiations on FTAs. RO are a central theme on each of theses fronts. A detailed analysis of the key questions surrounding the harmonization process is compelling, given that RO talks at the WTO will affect the negotiation of FTAs. Many developing countries are waiting the results from WTO to define their own RO. Since the impasse continues, they are creating their own systems and multiplying different ROs to satisfy their needs. This article seeks to provide some clues why it was impossible, till now, to finish this multilateral negotiation. It is organized as follows: i) review of the main issues in the ARO; ii) present the main points of contention in the harmonization work; iii) analyze the implications of a harmonized system of rules of origin to the other major WTO agreements as well as to other national trade policy instruments; and to present some possible scenarios how to conclude the negotiation