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2025-01-06 00:05:19 UTC - HELPFUL

Rated by Participant: 4DB950D30DB877BEC8EC1DE315CADF59A822564750E5A24348E4C4B21C4CB045
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Original Note:

The “evidence” used in the WH paper cited in the CN looks at effects of tariff increases from 1963-2014. The graph in OP starts in 1798. By 1963 tariffs are already insignificant. Also, it only looks at “medium term” effects of INCREASES, without considering normalization. https://www.nber.org/papers/w25402

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