Hertel, Thomas; Hummels, David; Ivanic, Maros; Keeney, Roman - Center for Global Trade Analysis (GTAP), Department of … - 2003
With the proliferation of Free Trade Agreements (FTAs) over the past decade, demand for quantitative analysis of their … foundations (McKitrick, 1998; Jorgenson, 1984). FTA results have been shown to be particularly sensitive to the trade elasticities …, with small trade elasticities generating large terms of trade effects and relatively modest efficiency gains, whereas large …