This paper takes up the question of whether market concerns about global imbalances in general, and the US external deficit in particular, are well founded. It reviews four arguments bearing on how concerned we should be about the widening of the US current account deficit since the Asian...

While antidumping laws were originally developed as the international trade analogue of domestic competition or antitrust policies, most vestiges of competition policy disappeared early in their evolution. Nonetheless, the formal justification for modern antidumping practice remains founded on...

This study assesses the potential gains from unilateral trade liberalization for the UK, against the background of a hard Brexit in which a hard border and tariff wall is erected between the UK and the European Union. Unilateral trade liberalization would allow the UK to expeditiously offset at...

This note discusses the scale of the risks to bilateral UK-EU trade under alternative scenarios for the UK leaving the Union, including a hard Brexit, a soft EFTA-like Brefta, and the scope for the foregone UK-EU trade to be made up through alternative agreements. It comments on the risks to...

This study applies a multi-country partial equilibrium model to assess the impact of tariff elimination on Canadian canola products by the European Union, and compares the composition of Canadian canola product exports to the EU, which practices tariff escalation, to exports to the United...

This note develops four alternative estimates of the trade-related impacts of the United Kingdom seceding from the European Union. We contrast two basic scenarios: an exit that re-sets the UK's relationship with the rest of the EU to a WTO-rules most favoured nation basis (“Brexit”), versus...

This study an analysis of the trade and economic implications of a Canada-ASEAN free trade agreement (FTA) using a dynamic computable general equilibrium model. The level of ambition is calibrated to be consistent with ASEAN's most ambitious FTA to date, namely that with Australia and New...

This study assesses the potential for enhancement post-Brexit of the UK's non-EU trading relationships by comparing actual levels of UK exports to predicted levels based on gravity model analysis, including by taking into account factors such as similarity/dissimilarity of comparative advantage,...