An intertemporal general equilibrium model of the United States and MERCOSUR is created to analyze the dynamic adjustments in both regions' commodity and capital markets after trade liberalization. Simulation results show that tariff reductions initiated by MERCOSUR have small positive effects...

Theories of regional integration typically analyze the regional integration process from the perspective of a single discipline, usually economics. However, such one-dimensional analytical frameworks cannot fully capture the richness and complexity of the inherently multi-dimensional regional...