The theoretical linkages between openness and long-run economic growth are established with the development of new growth theories. In this literature, it has been shown that openness affects economic growth through a number of channels and the direction of this effect is closely related to the...

Several studies have analyzed the trade and output effects of the Transatlantic Trade and Investment Partnership (TTIP) between the United States and the European Union, but our paper is the first attempt to study its welfare effects. We measure the welfare effect of TTIP as the percentage of...