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Issue Q3 2015  
A simple model of the juggernaut effect of trade liberalisation  
Richard Baldwin
Frédéric Robert-Nicoud
This paper posits a political economy model where (i) reciprocity in multilateral trade talks results in a one-off tariff cut below their unilateral level because reciprocal trade talks turn each nation?s exporters into anti-protectionists at home and (ii) this one-off global tariff is self-reinforcing because it reshapes the political economy landscape via entry and exit. Abstract

Reciprocal trade liberalisation ; Juggernaut effect ; Keywords
O16 ; JEL classification
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