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Trade Talks Episode 61: Trade, Firms, Profits, and Market Power: It's Complicated

Soumaya Keynes and Chad Bown speak with incoming World Bank Chief Economist Penny Goldberg (Yale University) about her research on how trade liberalization affects consumers and firms when firms have market power. They discuss the impact that India’s early 1990s tariff cuts—to both outputs and imported inputs—had on the profits and markups of domestic firms and the puzzle behind why consumer prices fell relatively little.

Soumaya Keynes (The Economist) and Chad P. Bown (PIIE)

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