We study how the 2025 U.S. tariff changes affected digital advertising markets, using difference-in-differences designs to show how trade policy shocks propagate into firms' advertising expenditures.
Mar 1, 2026

We provide the first comprehensive evidence of Apple's App Tracking Transparency policy's impact on e-commerce firms, finding substantial revenue declines particularly among smaller firms highly dependent on Meta advertising.
Feb 5, 2024