Welfare impact of a bilateral trade agreement
AbstractWe develop a general equilibrium model and derive sufficient conditions for a trade agreement to be welfare-enhancing for a country. Our sufficient conditions require that the unconditional mean of the real GDP of the domestic country be higher and the unconditional mean of the total real import of the domestic country from the countries outside the trading block be lower following the trade agreement. We apply the model on U.S.-Australia trade agreement. Our results meet the sufficient conditions. Therefore, we conclude that the U.S.-Australia trade agreement has helped enhancing U.S. welfare.
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Bibliographic InfoArticle provided by Camera di Commercio di Genova in its journal Economia Internazionale / International Economics.
Volume (Year): 62 (2009)
Issue (Month): 2 ()
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More information through EDIRC
NAFTA; Revealed-preference; Trade-reform; Welfare; Intervention-analysis;
Find related papers by JEL classification:
- F01 - International Economics - - General - - - Global Outlook
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.:
- Lopez, Ramon & Panagariya, Arvind, 1992. "On the Theory of Piecemeal Tariff Reform: The Case of Pure Imported Intermediate Inputs," American Economic Review, American Economic Association, vol. 82(3), pages 615-25, June.
- repec:fth:coluec:9596-04 is not listed on IDEAS
- Ju, J. & Krishna, K., 1996.
"market Access and Welfare Effects of Free Trade Areas without Rules of origin,"
2-96-1, Pennsylvania State - Department of Economics.
- Ju, J. & Krishna, K., 1995. "Market Access and Welfare Effects of Free Trade Areas Without Rules of Origin," Papers 11-95-3a, Pennsylvania State - Department of Economics.
- Jiandong Ju & Kala Krishna, 1996. "Market Access and Welfare Effects of Free Trade Areas without Rules of Origin," NBER Working Papers 5480, National Bureau of Economic Research, Inc.
- Jiandong Ju & Kala Krishna, . "Market Access and Welfare Effects of Free Trade Areas without Rules of Origin," EPRU Working Paper Series 96-03, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.
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