Protectionism Isn't Counter‐Cyclic (anymore)

B.T. Rocca Jr. Professor of International Business, Associate Dean, and Chair of the Faculty, Haas School of Business at the University of California, Berkeley, NBER Research Associate, and CEPR Research Fellow. The data set, key output, and a current version of this paper are available at my website. For help and comments, I thank: Richard Baldwin, Chad Bown, Meredith Crowley, Lawrence Edwards, Jeffry Frieden, Rob Johnson, Tom Prusa, and seminar participants at Boston College. For hospitality during the course of writing this paper, I thank the Free University of Berlin, the Hong Kong Institute for Monetary Research, and the University of Cape Town. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.