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Welfare Gains From Trade
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Book Synopsis Handbook of Deep Trade Agreements by : Aaditya Mattoo
Download or read book Handbook of Deep Trade Agreements written by Aaditya Mattoo and published by World Bank Publications. This book was released on 2020-09-23 with total page 768 pages. Available in PDF, EPUB and Kindle. Book excerpt: Deep trade agreements (DTAs) cover not just trade but additional policy areas, such as international flows of investment and labor and the protection of intellectual property rights and the environment. Their goal is integration beyond trade or deep integration. These agreements matter for economic development. Their rules influence how countries (and hence, the people and firms that live and operate within them) transact, invest, work, and ultimately, develop. Trade and investment regimes determine the extent of economic integration, competition rules affect economic efficiency, intellectual property rights matter for innovation, and environmental and labor rules contribute to environmental and social outcomes. This Handbook provides the tools and data needed to analyze these new dimensions of integration and to assess the content and consequences of DTAs. The Handbook and the accompanying database are the result of collaboration between experts in different policy areas from academia and other international organizations, including the International Trade Centre (ITC), Organisation for Economic Co-operation and Development (OECD), United Nations Conference on Trade and Development (UNCTAD), and World Trade Organization (WTO).
Book Synopsis Trade Adjustment Dynamics and the Welfare Gains from Trade by : George Alessandria
Download or read book Trade Adjustment Dynamics and the Welfare Gains from Trade written by George Alessandria and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We build a micro-founded two-country dynamic general equilibrium model in which trade responds more to a cut in tariffs in the long run than in the short run. The model introduces a time element to the fixed-variable cost trade-off in a heterogeneous producer trade model. Thus, the dynamics of aggregate trade adjustment arise from producer-level decisions to invest in lowering their future variable export costs. The model is calibrated to match salient features of new exporter growth and provides a new estimate of the exporting technology. At the micro level, we find that new exporters commonly incur substantial losses in the first three years in the export market and that export profits are backloaded. At the macro level, the slow export expansion at the producer level leads to sluggishness in the aggregate response of exports to a change in tariffs, with a long-run trade elasticity that is 2.9 times the short-run trade elasticity. We estimate the welfare gains from trade from a cut in tariffs, taking into account the transition period. While the intensity of trade expands slowly, consumption overshoots its new steady-state level, so the welfare gains are almost 15 times larger than the long-run change in consumption. Models without this dynamic export decision underestimate the gains to lowering tariffs, particularly when constrained to also match the gradual expansion of aggregate trade flows.
Book Synopsis The Welfare Economics of International Trade by : M. Kemp
Download or read book The Welfare Economics of International Trade written by M. Kemp and published by Taylor & Francis. This book was released on 2013-09-05 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a careful account of the leading propositions about the welfare gains associated with international trade and investment under differing institutional arrangements and policy choices.
Book Synopsis The Inequality Adjusted Gains from Trade by : Erhan Artuc
Download or read book The Inequality Adjusted Gains from Trade written by Erhan Artuc and published by Springer Nature. This book was released on 2022-02-09 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume examines the relationship between trade liberalization policies and income inequality in developing countries. Using survey data for 54 developing countries, the book explores the potential trade-off between the gains from trade and the distribution of those gains and provides a quantification of the inequality-adjusted welfare gains from trade. The book begins with an introduction to the model and its methodology. Chapter 2 sets up the model and derives the formulas for the welfare effects of trade policy. Chapter 3 uses the tariff data and the survey data to estimate those welfare effects in 54 countries. Chapter 4 discusses the gains from trade and their distribution. Chapter 5 evaluates and quantifies the trade-off between income gains and inequality costs of trade. Chapter 6 presents robustness tests and results from alternative models of the impacts of trade. The last chapter reviews the Household Impacts of Trade database and dashboard, which provides data for replication and a platform that allows researchers to simulate agricultural tariff policy shocks. Providing a comprehensive empirical analysis of the effects of trade policy on inequality in developing countries, this volume will be of interest to researchers and students of economic inequality, development, and international trade as well as policymakers interested in the inequality and poverty consequences of trade policy.
Book Synopsis Domestic Vs. International Welfare Gains from Trade by : Hakan Yilmazkuday
Download or read book Domestic Vs. International Welfare Gains from Trade written by Hakan Yilmazkuday and published by . This book was released on 2017 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using varieties of a rich model that considers sectoral heterogeneity and input-output linkages, this paper shows that the overall welfare gains of a region within a country can be decomposed into domestic versus international welfare gains from trade. Empirical results based on state-level data from the U.S. suggest that about 91 percent of the overall welfare gains of a state are due to domestic trade with other states, on average across alternative model specifications, with a range between 72 percent and 99 percent across states. When national-level data are used for the U.S., international welfare gains are shown to be almost identical to the those obtained by the aggregation of state-level results, suggesting that one can use the implications of a region-level analysis to have national-level results based on welfare gains from trade. We use this implication to propose an approximation to measure the domestic welfare gains from trade when domestic trade data are not available. Accordingly, using the implications of the model introduced, a Dispersion of Economic Activity Index (DEAI) is introduced that depends on internal distance and elasticity measures. It is empirically shown that DEAI can capture domestic welfare gains from trade within the U.S. when standard internal distance and elasticity measures in the literature are employed. Important policy suggestions follow.
Book Synopsis Comparative Advantage, Growth, and the Gains from Trade and Globalization by : Robert M. Stern
Download or read book Comparative Advantage, Growth, and the Gains from Trade and Globalization written by Robert M. Stern and published by World Scientific. This book was released on 2011 with total page 716 pages. Available in PDF, EPUB and Kindle. Book excerpt: Alan Deardorff was 65 years old on June 6, 2009. To celebrate this occasion, a Festschrift in his honor was held on October 2OCo3, 2009, in the Rackham Amphitheater at the University of Michigan in Ann Arbor. The Festschrift was entitled OC Comparative Advantage, Economic Growth, and the Gains from Trade and Globalization: A Festschrift in Honor of Alan V Deardorff.OCO It was co-organized by two of Professor Deardorff''s former students, Drusilla Brown of Tufts University and Robert Staiger of Stanford University, together with Robert Stern representing the University of Michigan. The first day of the Festschrift involved a series of panels in which invited participants reflected on Professor Deardorff''s contributions, including his writings on: comparative advantage; trade and growth; the gains from trade and globalization; and computational modeling and trade policy analysis. The panel participants prepared written comments, setting out their evaluation of Professor Deardorff''s contributions combined with their own thoughts on the current state of knowledge and analysis of the particular topic. At the end of the first day, Paul Krugman of Princeton University and The New York Times delivered a Citigroup Foundation Special Lecture entitled OC Reflections on Globalization: Yesteryear and Today.OCO All of these papers and Krugman''s lecture are contained in the volume."
Book Synopsis Allocate Efficiency, Mark-ups, and the Welfare Gains from Trade by : Thomas J. Holmes
Download or read book Allocate Efficiency, Mark-ups, and the Welfare Gains from Trade written by Thomas J. Holmes and published by . This book was released on 2013 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International Trade and National Welfare by : Murray C. Kemp
Download or read book International Trade and National Welfare written by Murray C. Kemp and published by Routledge. This book was released on 2013-01-11 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: When can a country be said to benefit from free trade? This question has obsessed economists for more than 200 years, and a definitive answer has never been provided. Continuing the influential work begun in The Gains from Trade and the Gains from Aid, (Routledge 1995), Murray Kemp here presents the recent progress he and his co-workers have made in tackling this important question.
Book Synopsis Welfare Gains from Trade by : Seyed Ali Madanizadeh
Download or read book Welfare Gains from Trade written by Seyed Ali Madanizadeh and published by . This book was released on 2017 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we propose a theoretical model of international trade that shows the welfare gains from trade are much higher than what Arkolakis et al 2014 find. We use the idea of weak linkages and the complementarity between the intermediate goods as in Jones 2011. The idea is simple. Production requires many different intermediate goods to get together and if the firm cannot purchase any of them from home nor from foreign, the production process fails. Same is true if any of these linkages are low productive and the firm cannot import it from a high productive sector from abroad. We propose a multi-industry multi-country trade model, and show that the complementarity of the intermediates goods results in much larger welfare gains than the current literature measures, using the same trade data. Also, similar to Ossa2015, we show that the variation of trade elasticities among industries greatly increases the welfare gains from trade; using Ossa's mechanism alongside the assumption of complementarity magnify the estimated welfare gains from trade.
Book Synopsis The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model by : Mr.Lisandro Abrego
Download or read book The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model written by Mr.Lisandro Abrego and published by International Monetary Fund. This book was released on 2019-06-07 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: In March 2018, representatives of member countries of the African Union signed the African Continental Free Trade Area (AfCFTA) agreement. This agreement provides a framework for trade liberalization in goods and services and is expected to eventually cover all African countries. Using a multi-country, multi-sector general equilibrium model based on Costinot and Rodriguez-Clare (2014), we estimate the welfare effects of the AfCFTA for 45 countries in Africa. Three different model specifications—comprising both perfect competition and monopolistic competition—are used. Simulations include full elimination of import tariffs and partial but substantial reduction in non-tariff barriers (NTBs). Results reveal significant potential welfare gains from trade liberalization in Africa. As intra-regional import tariffs in the continent are already low, the bulk of these gains come from lowering NTBs. Overall gains for the continent are broadly similar under the three model specifications used, with considerable variation of potential welfare gains across countries in all model structures.
Book Synopsis WELFARE ECONOMICS AND THE GAINS FROM TRADE. by :
Download or read book WELFARE ECONOMICS AND THE GAINS FROM TRADE. written by and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Open-economy Phillips Curves and the Welfare Gains from Trade by : Pui Chi Ip
Download or read book The Open-economy Phillips Curves and the Welfare Gains from Trade written by Pui Chi Ip and published by . This book was released on 1974 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Capital Accumulation and the Welfare Gains from Trade by : Wyatt Brooks
Download or read book Capital Accumulation and the Welfare Gains from Trade written by Wyatt Brooks and published by . This book was released on 2017 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: We measure the gains from a trade cost reduction in a model with dynamic accumulation of factors. We show that the tight link between import intensity and gains from trade that exists in static models breaks down along transition paths in dynamic models. When trade costs are reduced, the need to accumulate factors temporarily shifts spending from consumption to investment. Import intensity may rise or fall along the transition path, depending on the relative import intensity of consumption and investment. Calibrating the model to the U.S. economy, we find that investment is more import intensive than consumption, so that import intensity is falling along the transition path even as consumption is rising. Therefore, while higher import intensity is associated with higher consumption when comparing steady states (as in static models), it is associated with lower consumption along a given transition path. We also consider the case of endogenous firm creation as another form of investment and factor accumulation, and again find a negative relationship between consumption and import intensity along the transition path.
Download or read book Sticky Feet written by Claire H. Hollweg and published by World Bank Publications. This book was released on 2014-07-03 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report quantifies labor mobility costs in developing countries and simulates the implied adjustment paths of employment and wages following a change in trade policy. High mobility costs are shown to reduce the potential gains to trade reform.
Book Synopsis Welfare Gains from Trade in Multi-Sector Models by : Hakan Yilmazkuday
Download or read book Welfare Gains from Trade in Multi-Sector Models written by Hakan Yilmazkuday and published by . This book was released on 2019 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sectoral heterogeneity has been shown to affect country-level welfare gains from trade that can be calculated by sector-specific trade elasticities and home expenditure shares. However, empirical analyses of multi-sector models are restricted to a limited number of countries and sectors, mostly due to the lack of data on sector-specific home expenditure shares. This paper first proposes a solution to this limitation by changing the way that foreign products are aggregated at the destination country, where "unbiased" multi-sector welfare gains can be captured by using country-specific trade elasticity measures. Second, the restrictive assumption of unitary importer-income elasticity is relaxed, and it is shown that the trade elasticity in the calculation of welfare gains is replaced by the newly-introduced welfare elasticity, a function of trade and income elasticities. Empirical evidence suggests that equal percentage changes in home expenditure shares result in unequal gains across countries depending on their elasticity measures.
Book Synopsis Estimating Disparity in Welfare Gains from Trade Between Firm Owners and Workers by : Ching-mu Chen
Download or read book Estimating Disparity in Welfare Gains from Trade Between Firm Owners and Workers written by Ching-mu Chen and published by . This book was released on 2017 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study quantifies the uneven welfare gains from trade between firm owners and workers in a multi-country model of monopolistic competition under a demand system of constant elasticity of substitution (CES). An agent decides to start up her own firm or to be employed as a worker according to her level of innate capability, which determines the productivity of her potential launched firm. Although keeping this model isomorphic to Melitz's (2003) heterogeneous firm model in terms of the aggregate welfare gains from trade, we are able to examine the welfare gains for firm owners and workers, respectively. Theoretically, we find that countries with lower domestic expenditure shares display higher disparities in welfare gains from trade between firm owners and workers. Taking the model to data, we illustrate the application of the methodology by calculating the respective average welfare gains (compared to autarky) of firm owners and of workers for 14 countries, including G7, BRIC, Korea, Singapore, and Taiwan. Among them, Singapore has relatively lower domestic expenditure shares and shows dramatically large disparity in welfare gains between these two occupations. Taking the year of 2006 as an example, the gap in welfare gains in Singapore reaches to 445.03% while the same measure in the United States is only 9.95%.
Book Synopsis Non-traded Goods and the Welfare Gains from Tourism by : Harry R. Clarke
Download or read book Non-traded Goods and the Welfare Gains from Tourism written by Harry R. Clarke and published by . This book was released on 1995 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
