This paper examines the effects of African Continental Free Trade Agreement (AfCFTA) on intra-African trade in the medium- and long-term, focusing on trade in services. It assesses the impacts of a 50\% reduction of non-tariff barriers in four services sectors on bilateral trade in services...

This paper finds that the food problem can lead to large gains from lowering trade costs for poor countries. To quantify these potential gains from trade, I extend the Eaton-Kortum trade model to include a tradable agriculture sector, minimum consumption and home production technology of...

We construct a new database which covers production and trade in 136 primary commodities and 24 manufacturing and service sectors for 145 countries. Using this new more granular data, we estimate spillover effects from plausible trade fragmentation scenarios in a new multi-country, multi-sector,...

The present study attempts to analyze the price formation mechanism in the world soybean oil market in a competitive framework. The determinants of world soybean oil price are identified by estimating the equations for exports/imports and the border prices of the major exporting and importing...

This paper provides a welfare comparison of a tariff with a combination of a production subsidy to, and a commodity tax on, an import-competing commodity in a two-country economy. We treat some plausible situations of industry protection, including where the initial tariff is above the optimal...

The paper studies the revenue, efficiency, and distributional implications of a simple strategy of offsetting tariff reductions with increases in destination-based consumption taxes so as to leave consumer prices unchanged. We employ a dynamic micro-founded macroeconomic model of a small open...

This paper reviews the most significant recent developments in the theory of trade agreements. The paper offers an integrated approach to evaluating trade agreements, and uses the approach to present results on preferential and multilateral trade agreements. The paper identifies also several...

The number of preferential trade agreements has greatly increased over the past two decades, yet most existing bilateral arrangements take the form of free trade areas, and less than ten percent can be considered to be fully fledged customs unions. This paper develops a political economy model...

Recently, the world economy has seen its greatest down turn since World War II. Although not as bad as during the Great Depression, there was still a worrisome increase in protectionist measures, in an attempt to mitigate the economic downturn. Protectionism can have many different faces. It can...

This paper reviews the most significant recent developments in the theory of trade agreements. The paper offers an integrated approach to evaluating trade agreements, and uses the approach to present results on preferential and multilateral trade agreements. The paper identifies also several...