Showing 1 - 10 of 11
Existing formal models of the relationship between trade policy and regulatory policy suggest the potential for a regulatory race to the bottom. WTO rules and disputes, however, center on complaints about excessively stringent regulations. This paper bridges the gap between the existing formal...
Persistent link: https://www.econbiz.de/10012463108
We provide a simple but novel model of trade agreements that highlights the role of transaction costs, renegotiation and dispute settlement. The model allows us to characterize the appropriate remedy for breach and whether the agreement should be structured as a system of "property rights" or...
Persistent link: https://www.econbiz.de/10012463189
The rise of offshoring of intermediate inputs raises important questions for commercial policy. Do the distinguishing features of offshoring introduce novel reasons for trade policy intervention? Does offshoring create new problems of global policy cooperation whose solutions require...
Persistent link: https://www.econbiz.de/10012464361
We consider the design and implementation of international trade agreements when: (i) negotiations are undertaken and commitments made in the presence of uncertainty about future political pressures; (ii) governments possess private information about political pressures at the time that the...
Persistent link: https://www.econbiz.de/10012467700
Motivated by the structure of WTO negotiations, we analyze a bargaining environment in which negotiations proceed bilaterally and sequentially under the most-favored-nation (MFN) principle. We identify backward-stealing and forward-manipulation problems that arise when governments bargain under...
Persistent link: https://www.econbiz.de/10012468273
We describe recent work on the theory of trade agreements that speaks to the purpose and design of GATT. Our discussion … review therefore offers support for the (politically-augmented) terms-of-trade theory as an appropriate framework within …
Persistent link: https://www.econbiz.de/10012470726
trade liberalization. Yet the theory of trade policy has traditionally had little to say about these rules and the issues …
Persistent link: https://www.econbiz.de/10012473937
interpreted as symptoms of a dispute resolution system in decline. In this paper we propose a theory that can explain these trends … as a result of judicial learning; thus according to our theory such trends represent good news, not bad news. We then …
Persistent link: https://www.econbiz.de/10012453937
The existing economics literature on international trade agreements focuses on tariff agreements covering trade in goods, and offers an explanation for core features of the GATT. Tariffs play almost no role in services markets, however, and the existing models cannot account for the dramatically...
Persistent link: https://www.econbiz.de/10012455720
Current policies directed at mitigating global warming appear unlikely to prevent temperatures from rising to levels that would trigger a precipitous increase in the costs of climate change. Various attempts at international cooperation to avoid this outcome have failed. Why is this problem so...
Persistent link: https://www.econbiz.de/10013462728