New research reveals how global trade policies impact domestic welfare.
The article explains how economists have developed a new way to analyze the effects of big changes in the economy. They use math tools to study how things like taxes or trade restrictions impact prices and people's well-being. By using these tools, they can create computer models to predict what might happen in different scenarios. The researchers show that this method can be useful for policymakers to make better decisions about things like taxes and trade policies.