We present a simple computable model of EC footwear production and trade coupled with a rudimentary production model for Eastern Europe. We simulate the liberalization of EC footwear imports from Eastern Europe as planned under the so-called Europe Agreements. We find that if Eastern Europe can...

This paper constructs a simple model of the steel sector in Europe distinguishing eight West and two East European regions. It models the production of steel and also the various trade restrictions extant in 1992. It uses this model first to calculate the output and welfare effects of...

The last decade has witnessed an explosion in the number of regional trade agreements (RTAs). There seems to be a general, if ill-defined, belief on the part of many policy-makers, and among some academics as well, that there is more to an RTA then the traditional gains from trade. This paper...

In 2009, the United States imposed additional tariffs for a three-year period on imports of automotive tires from China under a special-safeguard provision included in China’s Protocol of Accession to the WTO. China challenged the measure in the WTO. The case marked the first WTO dispute in...

This paper investigates the basic stylized facts of business cycles in the G7 countries using quarterly data from 1960-89. The methodology used is based on Kydland and Prescott (1990). The evidence suggests that the real business cycles model can account for several important stylized facts for...