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The African Continental Free Trade Agreement : welfare gains estimates from a general equilibrium model
Abrego, Lisandro E.; Amado, Maria Alejandra; Gursoy, Tunc; … - 2019
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...
Persistent link: https://www.econbiz.de/10012102028
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Current account rebalancing and real exchange rate adjustment between the U.S. and emerging Asia
Méjean, Isabelle; Rabanal, Pau; Sandri, Damiano - 2011
Persistent link: https://www.econbiz.de/10009487129
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Current Account Rebalancing and Real Exchange Rate Adjustment Between the U.S. and Emerging Asia
Sandri, Damiano - 2011
A reduction in the U.S. current account deficit vis-à-vis emerging Asia involves a shift in demand from U.S. to … emerging Asia tradable goods and a change in international relative prices. This paper quantifies the required adjustment in … Asia. We compare scenarios where both Chinese and other emerging Asian export prices change by the same proportion to the …
Persistent link: https://www.econbiz.de/10011779741
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Are Regional Trade Agreements in Asia Stumbling or Building Blocks? : Some Implications for the Mekong-3 Countries
Tumbarello, Patrizia - 2007
Is the recent proliferation of Regional Trade Agreements (RTAs) in Asia a healthy development, or runs the risk of …
Persistent link: https://www.econbiz.de/10014400352
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Armington Elasticities in Intermediate Inputs Trade : A Problem in Using Multilateral Trade Data
Saito, Mika - 2004
This paper finds that the estimates of Armington elasticities (the elasticity of substitution between groups of products identified by country of origin) obtained from multilateral trade data can differ from those obtained from bilateral trade data. In particular, the former tends to be higher...
Persistent link: https://www.econbiz.de/10014404121
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Free Trade Areas and Rules of Origin : Economics and Politics
Panagariya, Arvind - 2003
Incorporating intermediate inputs into a small-union general-equilibrium model, this paper first develops the welfare economics of preferential trading under the rules of origin (ROO) and then demonstrates that the ROO could improve the political viability of Free Trade Agreements (FTAs). Two...
Persistent link: https://www.econbiz.de/10014403978
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Welfare Gains From Financial Liberalization
Ueda, Kenichi - 2007
Financial liberalization has been a controversial issue as there is little empirical evidence for its positive effects on economic growth. However, we find sizable welfare gains, 1 to 28 percent of permanent consumption though, consistent with the literature, the gain in the economic growth is...
Persistent link: https://www.econbiz.de/10014400329
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Public Infrastructures, Public Consumption, and Welfare in a New-Open-Economy-Macro Model
Ganelli, Giovanni - 2007
This paper focuses on the trade-off faced by governments in deciding the allocation of public expenditures between productivity-enhancing public infrastructures and utility-enhancing public consumption. From the modeling point of view, the paper augments a standard New Open Economy...
Persistent link: https://www.econbiz.de/10014400345
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Lucas vs. Lucas : On Inequality and Growth
Cordoba, Juan Carlos - 2007
Lucas (2004) asserts that ""Of the tendencies that are harmful to sound economics, the most seductive, and in my opinion the most poisonous, is to focus on questions of distribution. The potential for improving the lives of poor people by finding different ways of distributing current production...
Persistent link: https://www.econbiz.de/10014400357
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Implications of More Precise Information for Technological Development and Welfare
Eckwert, Bernhard - 2007
This paper analyzes the dynamic interactions between the precision of information, technological development, and welfare within an overlapping generations model. More precise information about idiosyncratic production shocks has ambiguous effects on technological progress and welfare, which...
Persistent link: https://www.econbiz.de/10014400723