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We estimate the uncertainty effects of preferential trade disagreements. Increases in the probability of Britain's exit from the European Union (Brexit) reduce bilateral export values and trade participation. These effects are increasing in trade policy risk across products and asymmetric for UK...
Persistent link: https://www.econbiz.de/10012906789
Foreign-owned manufacturing firms' shares of U.S. trade grew from almost nothing in the 1960s to 7 or 8 per cent of trade in manufactured goods by the 1980s. It has changed little in the past decade, except for fluctuations related to changing U.S. exchange rates. Foreign-owned firms are less...
Persistent link: https://www.econbiz.de/10013226179
Recently competition policy has become an important trade policy issue, since many policy makers now see competition policy as an important instrument to secure market access' to foreign markets. This paper analyzes this issue both from a theoretical point of view and from the review of the...
Persistent link: https://www.econbiz.de/10013228236
region. We find that features of a country associated with more trade with either Japan or the United States also tend to be … associated with more DFI from Japan or the United States. U.S. economic relations with Japan and Western Europe provide an … important exception. Despite U.S. concern about its trade deficit with Japan, we find Japan to be much more open to the United …
Persistent link: https://www.econbiz.de/10012763473
This paper reviews the recent problems of the opening of Japan's rice market and evaluates the Japanese government … of Japan's rice market during the negotiations on agricultural trade at the GATT Uruguay Round. Eventually Japan's rice … of Japan's rice imports could be decreased if the Japanese government accepted the tariffication agreement. In retrospect …
Persistent link: https://www.econbiz.de/10013248556
In contrast to recent literature, we show that market access requirements (MARs) can be implemented in a procompetitive manner even in the absence of threats in related markets. By focusing on subsidies that are paid only when the requirement is met, we show that a MAR can increase aggregate...
Persistent link: https://www.econbiz.de/10013322874
Department) brought about a 1986 trade agreement in which the United States forced Japan to end the 'dumping' of semiconductors … 'affirmative action' for the industry in its efforts to sell more in Japan, but has been criticized as constituting 'export …
Persistent link: https://www.econbiz.de/10013310555
, Europe, and Japan. We use these asset prices to construct equity yields, analogous to bond yields. We decompose these yields … events such as the financial crisis and the earthquake in Japan …
Persistent link: https://www.econbiz.de/10013120296
Over the postwar, the U.S., Europe and Japan have experienced what may be thought of as medium frequency oscillations …
Persistent link: https://www.econbiz.de/10013125764
We simulate corporate tax reform in a single good, five-region (U.S., Europe, Japan, China, India) model, featuring …
Persistent link: https://www.econbiz.de/10013071508