Panagariya, Arvind; Duttagupta, Rupa - International Monetary Fund (IMF) - 2003
Incorporating intermediate inputs into a small-union general-equilibrium model, this paper first develops the welfare … viability of Free Trade Agreements (FTAs). Two interesting outcomes are derived. First, a welfare reducing FTA that was rejected … in the absence of the ROO becomes feasible in the presence of these rules. Second, a welfare improving FTA that was …
