The effects of Regional Trade Agreements (RTAs) are disputed. In this paper, we assess these effects using capital … when RTAs are signed between countries that already engage in high volumes of trade. Stock markets also rise more when …

This paper infers the terms of trade effects of Free Trade Agreements (FTA's) with the structural gravity model. Using … panel data methods to resolve two way causality between trade and FTA's, we estimate direct FTA effects on bilateral trade … volume in 2 digit manufacturing goods from 1990-2002. We deduce the terms of trade changes implied by these volume effects …

We combine data on trade, production, and input use to compute the value added content of trade for forty-two countries … from 1970 to 2009. For the world, the ratio of value added to gross trade falls by ten to fifteen percentage points, with … points, with large declines concentrated among countries undergoing structural transformation. Across bilateral trade …

In this paper we explore the potential gains that a trade agreement (TA) can provide by regulating trade …-policy uncertainty, in addition to the more standard gains from reducing the mean levels of trade barriers. We show that in a standard … trade model with income-risk neutrality there tends to be an uncertainty- increasing motive for a TA. With income …

Two central topics in recent rounds of international trade negotiations have been environmental concerns, and services … trade. While each is undoubtedly important, they are unrelated. In this paper I show that the services-environment link is …. Those services for which the U.S. collects and publishes international trade data -- presumably those services that are …

across these countries, and AD criteria and procedures have been codified in the General Agreement on Tariffs and Trade and … its successor, the World Trade Organization. AD's unique characteristics along with its high incidence of use make it a … particularly apt policy for studying numerous trade theories and political economy models. We review the economics literature on …

empirically important determinants of trade policy? To address these questions, we introduce supply chain linkages into a … workhorse terms-of-trade model of trade policy with political economy. Theory predicts that discretionary final goods tariffs … test these predictions using newly assembled data on bilateral applied tariffs, temporary trade barriers, and value …

As trade agreements have evolved and gone beyond import tariffs and quotas into regulatory rules and harmonization … trade agreements such as the Trans Pacific Partnership (TPP) favorably. The default view seems to be that these arrangements … get us closer to free trade by reducing transaction costs associated with regulatory differences or explicit protectionism …

We consider the purpose and design of trade agreements in imperfectly competitive environments featuring firm … have been identified, we show that the only rationale for a trade agreement is to remedy the inefficiency attributable to … the terms-of-trade externality, the same rationale that arises in perfectly competitive markets. Furthermore, and again as …