Nuno Limão





CV | Research | Teaching & Mentoring | Links




Current affiliations

·       Professor, Department of Economics University of Maryland

·       Faculty Research Associate, National Bureau of Economic Research

·       Research Fellow, Kiel Institute for the World Economy

·       Associate Editor of the Journal of International Economics

·       Associate Editor of the E-conomics Journal





Google Scholar: Author Page

Working Papers

·        Policy Uncertainty, Trade and Welfare: Theory and Evidence for China and the U.S.NBER WP 19376 (with Kyle Handley). R&R American Economic Review.

Work in Progress

·       “Trade Collapse and Policy Uncertainty in the Great Recession.” (with Kyle Handley and Jeronimo Carballo)

·        “Trade and Investment under Exchange Rate Uncertainty: Firm-level Effects of the Euro.” (with Ruben Branco, Luca O’Promolla and Jose Tavares)

·       “Policy Credibility and Firm Growth in the Global Economy.” (with Kyle Handley,  Rod Ludema and Zhi Yu)

·       “Preferential Trade Agreements and the World Trading System.” Requested chapter for the Handbook of Commercial Policy.

·       “Estimating Firms’ Returns to Political Investments.” (with Allan Drazen)



·       Trade and Investment under Policy Uncertainty: Theory and Firm Evidence,” NBER WP 17790. American Economic Journal Policy, Forthcoming; with Kyle Handley.
[Working paper]

·        Uncertainty and Trade Agreements,” NBER WP 18703. American Economic Journal Micro, Forthcoming; with Giovanni Maggi.
[Working paper]

·        Size Inequality, Coordination Externalities and International Trade Agreements,European Economic Review, October 2013, (63), p. 10-27; with Kamal Saggi
[Working paper]

·       Review of The Great Recession and Import Protection,” Journal of International Economics, 2012, 88(1), 209-210.

·       Policy Choice: Theory and Evidence from Commitment via International Trade Agreements,”  Journal of International Economics. November 2011, 85(2), p. 186-205; with Patricia Tovar Rodriguez
[Abstract] [Working paper]

·       Optimal Tariffs and Market Power: The Evidence,” American Economic Review, December 2008, 98(5), p. 2032-65; with Christian Broda and David Weinstein.
[Abstract] [Revised nber wp 12033]

·       Tariff Retaliation versus Financial Compensation in the Enforcement of International Trade Agreements,” Journal of International Economics. September 2008, 76(1), p. 48-60; with Kamal Saggi.
[Abstract] [Revised WP]

·       A Bargaining Theory of Inefficient Redistribution Policies,” International Economic Review. May 2008,  49(2), p. 621-657; with Allan Drazen.
[Abstract] [Working paper]

·       “Optimal Tariffs.” New Palgrave Dictionary of Economics, 2nd edition. 2008, eds. Steven N. Durlauf and Lawrence E. Blume. [Abstract]

·       The Clash of Liberalizations: Preferential vs. Multilateral Trade Liberalization in the European Union,” Journal of International Economics. March 2008, 74(2), p. 299-327; with Baybars Karacaovali.
[Abstract] [Revised WP]

·        Are Preferential Trade Agreements with Non-trade Objectives a Stumbling Block for Multilateral Liberalization? Review of Economic Studies. July 2007, 74(3), p. 821-855.
[Abstract] [Appendix] [Data]

§  Reprinted in “Economics Of International Trade Law” by Edward Elgar, ed. Alan O. Sykes.

·       Inequality and Endogenous Trade Policy Outcomes,” Journal of International Economics. July 2007, 72(2), p. 292-309; with Arvind Panagariya.
[Abstract] [Paper]

·       Political Contribution Caps and Lobby Formation: Theory and Evidence,” Journal of Public Economics. April 2007, 91(3-4), p. 723-754;  with Allan Drazen and Thomas Stratmann.
[Abstract] [Working paper]

·       Preferential Trade Agreements as Stumbling Blocks for Multilateral Trade Liberalization: Evidence for the U.S.American Economic Review. June 2006, 96(3), p. 896-914.
[Abstract] [Working paper] [Data]

§  Reprinted in “The WTO and Reciprocal Preferential Trading Agreements” by Edward Elgar, ed. Caroline Freund.

·       Trade Preferences to Small Developing Countries and the Welfare Costs of Lost Multilateral Liberalization  World Bank Economic Review. June 2006, 20(2), p. 217-240; with Marcelo Olarreaga.
[Abstract] [Working paper]

§  Reprinted in “WTO Law and Developing Nations” by Cambridge University Press, eds. G. Breman and P. Mavroidis

·       Preferential vs. Multilateral Trade Liberalization: Evidence and Open Questions,” World Trade Review. July 2006, 5(2), p. 155-176. Lead Article.

·       Trade Policy, Cross-border Externalities and Lobbies: Do Linked Agreements Enforce More Cooperative Outcomes?Journal of International Economics, sep. 2005, 67(1), p. 175-199.
[Abstract] [Working paper]

§  Reprinted in “The WTO and Labour and Employment” by Edward Elgar, ed. Drusilla Brown and Robert Stern.

§  Reprint requested for “Recent Papers in Trade and the Environment” by Edward Elgar, ed. Brian Copeland.   

·       Anti-trade Bias in Trade Policy and General Equilibrium,” Contributions to Economic Analysis & Policy, 2004, Vol. 3: No. 1, Article 14; with Arvind Panagariya.

·       Geographical Disadvantage: a Hecksher-Ohlin-Von-Thunen Model of International Specialisation,” Journal of International Economics , dec. 2002, 58(2), p.239-63; with Anthony Venables. Lead article.

§  Reprinted in “Economic Integration and Spatial Location of Firms and Industriesby Edward Elgar, ed. M. Jovanovic.

·       Infrastructure, Geographical Disadvantage, Transport Costs and Trade,” World Bank Economic Review, 2001, 15, p.451-479; with Anthony Venables. [Abstract] [Data]

§  Reprinted in Spanish for a special volume on trade and transport costs by ICE, Revista de Economia, Jan.-Feb. 2007, 834, p. 23-43.


Other work


·       Does policy uncertainty reduce economic activity? Insights and evidence from large trade reforms.” 2013, solicited by; with Kyle Handley.

·        Comments on Horn et al's 'Beyond the WTO? Coverage and legal inflation in EU and US preferential trade agreements'”. 2011. “Preferential Trade Agreements: A Law and Economics Analysis” Cambridge UP; eds. Kyle W. Bagwell, Petros C. Mavroidis.


Teaching & Mentoring


Courses taught

·      Advanced Topics in International Economics (Econ 742)

·      Advanced Topics in International Trade (Econ 745)

·      International Economics (Econ 441)

·      Game Theory (Econ 414)

·      Undergraduate Honors’ Seminar and Thesis (Econ 396 and Econ 397)


Undergraduate Economics Honors Program

·      Home page including

o   Information for potential applicants

o   Application form

o   Recent theses

·      Syllabi for Econ 396 and Econ 397



·      My 6-step “program” to writing a dissertation!

·      Information for graduate students (surviving the 1st year, finding a topic, getting funding, a job and a Nobel prize!)

·      Former students, dissertation topics and placements

·      Become part of the trade economists' family



·       Allan Drazen

·       Anthony Venables

·       Arvind Panagariya

·       Baybars Karacaovali

·       Christian Broda

·       David Weinstein

·       Giovanni Maggi

·       Kamal Saggi

·       Kyle Handley

·       Marcelo Olarreaga

·       Patricia Tovar Rodriguez

·       Thomas Stratmann


·       University of Maryland, Economics Department

·       Yale University, Economics Department

·       Yale University, MacMillan Center

·       Columbia University, Economics Department

·       London School of Economics, Economics Department

·       National Bureau of Research (NBER)

·       Centre for Economic Policy Research (CEPR)

·       Kiel Institute for the World Economy

·       National Science Foundation (NSF)

·       US Census Bureau

·       World Bank's Trade Research Group

·       World Trade Organization (WTO)

News and blogs

·      BBC News 

·      Economist

·      National Public Radio (NPR)

·      Vox

·      Marginal Revolution

·      Greg Mankiw

·      Paul Krugman

·      Policy uncertainty index (Baker, Bloom and Davis)


·      Lisboa 

·      United World College

·      Fundação para a Ciência e a Tecnologia

·      Fundação Calouste Gulbenkian

·      Portuguese American Post-Graduate Society


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