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Trade Liberalization in General Equilibrium: Intertemporal and Inter-industry Effects Author info | Abstract | Publisher info | Download info | Related research | Statistics Lawrence H. Goulder
Barry Eichengreen
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A computable general equilibrium model is used to examine effects of removing U.S. tariff and non-tariff barriers to trade. The model differs from traditional disaggregated trade models in its attention to intertemporal decision-making, adjustment dynamics, and international capital mobility. Unilateral elimination of tariffs would reduce the welfare of U.S. households by 0.4 percent. Elimination of quantitative restrictions, in contrast, would increase U.S. welfare by 1.1 percent. The international cross-ownership of capital associated with internationally mobile capital significantly influences the distribution of capital gains and losses from trade liberalization. Disregarding cross-ownership leads to understatement of the domestic welfare losses from tariff removal and overstatement of the domestic welfare gains from eliminating quantitative restrictions.
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Article provided by Canadian Economics Association in its journal Canadian Journal of Economics .
Volume (Year): 25 (1992)
Issue (Month): 2 (May)
Pages: 253-80
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Handle: RePEc:cje:issued:v:25:y:1992:i:2:p:253-80Contact details of provider: Postal: Canadian Economics Association Prof. Steven Ambler, Secretary-Treasurer c/o Olivier Lebert, CEA/CJE/CPP Office C.P. 35006, 1221 Fleury Est Montréal, Québec, Canada H2C 3K4 Email: Web page: http://economics.ca/cje/ More information through EDIRC
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Other versions:
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Warwick. J. McKibbin, .
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Mohamed A. Marouani, 2005.
"The Impact of the Multifiber Agreement Phaseout on Unemployment in Tunisia: a Prospective Dynamic Analysis ,"
cege â Center for European, Governance and Economic Development Research Discussion Papers
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Terrie Walmsley, 1998.
"LONG-RUN SIMULATIONS WITH GTAP: Illustrative Results from APEC Trade Liberalisation ,"
Centre of Policy Studies/IMPACT Centre Working Papers
ip-70, Monash University, Centre of Policy Studies/IMPACT Centre.
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Other versions: Carlos E. J. M. Zarazaga, 2000.
"Measuring the benefits of unilateral trade liberalization; part 2: dynamic models ,"
Economic and Financial Policy Review ,
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AKITOBY, Bernardin, 1997.
"Rigidité normale, dévaluation et équilibre général intertemporel ,"
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9708, Universite de Montreal, Departement de sciences economiques.
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