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Computational Analysis of the U.S FTAs with Central America, Australia, And Morocco

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Author Info

  • Drusilla K. Brown

    (Tufts University)

  • Kozo Kiyota

    (Yokohama National University)

  • Robert M. Stern

    (University of Michigan)

Abstract

We use the Michigan Model of World Production and Trade to assess the economic effects of the U.S. bilateral FTAs negotiated with Central America, Australia, and Morocco. The model covers 18 economic sectors in each of 22 countries/regions and is based on Version 5.4 of the GTAP database for 1997 together with specially constructed estimates of services barriers and other data on sectoral employment and numbers of firms. The distinguishing feature of the model is that it incorporates monopolistic competition in the manufacturing and services sectors, including increasing returns and product variety. The modeling focus is on the effects of the bilateral removal of tariffs on agriculture and manufactures and services barriers. Rules of origin and other restrictive measures and the non-trade aspects of the FTAs are not taken into account due to data constraints. The computational results indicate that the benefits of bilateral FTAs for the United States and partner countries are rather small in both absolute and relative terms, and that far greater benefits could be realized if the United States and its FTA partners adopted unilateral free trade and especially if multilateral free trade was adopted by all countries/regions in the global trading system.

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File URL: http://fordschool.umich.edu/rsie/workingpapers/Papers526-550/r527.pdf
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Bibliographic Info

Paper provided by Research Seminar in International Economics, University of Michigan in its series Working Papers with number 527.

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Length: 51 pages
Date of creation: 2005
Date of revision:
Handle: RePEc:mie:wpaper:527

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Postal: ANN ARBOR MICHIGAN 48109
Web page: http://www.fordschool.umich.edu/rsie/
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Related research

Keywords: Free Trade Agreements; Unilateral Liberalization; Multilateral Liberalization;

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Cited by:
  1. Drusilla K. Brown & Kozo Kiyota & Robert M. Stern, 2005. "Computational Analysis of the Free Trade Area of the Americas (FTAA)," Working Papers 528, Research Seminar in International Economics, University of Michigan.
  2. Edward J. Balistreri & James R. Markusen, 2007. "Sub-national Differentiation and the Role of the Firm in Optimal International Pricing," NBER Working Papers 13130, National Bureau of Economic Research, Inc.
  3. Bussolo, Maurizio & Niimi, Yoko, 2006. "Do regional trade pacts benefit the poor ? An illustration from the Dominican Republic-Central American Free Trade Agreement in Nicaragua," Policy Research Working Paper Series 3850, The World Bank.
  4. Drusilla K. Brown & Kozo Kiyota & Robert M. Stern, 2006. "Computational Analysis of the Menu of US-Japan Trade Policies," The World Economy, Wiley Blackwell, vol. 29(6), pages 805-855, 06.
  5. Siriwardana, Mahinda, 2007. "The Australia-United States Free Trade Agreement: An economic evaluation," The North American Journal of Economics and Finance, Elsevier, vol. 18(1), pages 117-133, February.
  6. Mahinda Siriwardana, 2006. "Australia's Involvement in Free Trade Agreements: An Economic Evaluation," Global Economic Review, Taylor & Francis Journals, vol. 35(1), pages 3-20.
  7. Walkenhorst, Peter & Malouche, Mariem, 2006. "Trade Policy and Export Performance in Morocco," MPRA Paper 23119, University Library of Munich, Germany.
  8. Richard G. Harris & Peter E. Robertson, 2007. "Dynamic Gains and Market Access Insurance: Another look at the AUSFTA," Discussion Papers 2007-23, School of Economics, The University of New South Wales.

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