Trade Creation And Trade Diversion Under Mercorsur: A Global Intertemporal General Equilibrium Analysis
A multi-region, multi-sector global intertemporal general equilibrium model is constructed to analyze dynamic adjustments following the establishment of the Southern Common Market (MERCOSUR). The study focuses on regional trade integration effects as well as third party spillover effects. By taking into account both transitional and steady state adjustments in consumption, production, and investments, we observe significant shifts of trade diversion away from the non-member trading partners to the member countries. We also find that, following the MERCOSUR's common external tariffication, growth of intra trade would likely be accompanied by increases in trade between Mercosur and other countries.
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- Mercenier, J. & Da Conceicao Sampaio de Souza, M., 1991.
"Structural Adjustment and Growth in a Highy Indebted Market Economy: Brazil,"
Cahiers de recherche
9103, Universite de Montreal, Departement de sciences economiques.
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- Mercenier, Jean & Michel, Philippe, 1994. "Discrete-Time Finite Horizon Appromixation of Infinite Horizon Optimization Problems with Steady-State Invariance," Econometrica, Econometric Society, vol. 62(3), pages 635-56, May.
- repec:bil:bilpap:964 is not listed on IDEAS
- Go, Delfin S., 1994. "External shocks, adjustment policies and investment in a developing economy: Illustrations from a forward-looking CGE model of the Philippines," Journal of Development Economics, Elsevier, vol. 44(2), pages 229-261, August.
- Adams, F. Gerard & Park, I., 1995. "Measuring the impact of AFTA: An application of a linked CGE system," Journal of Policy Modeling, Elsevier, vol. 17(4), pages 325-365, August.
- Mercenier, Jean, 1995. "Can "1992" reduce unemployment in Europe? On welfare and employment effects of Europe's move to a single market," Journal of Policy Modeling, Elsevier, vol. 17(1), pages 1-37, February.
- Lawrence H. Goulder & Lawrence H. Summers, 1987.
"Tax Policy, Asset Prices, and Growth: A General Equilibrium Analysis,"
NBER Working Papers
2128, National Bureau of Economic Research, Inc.
- Goulder, Lawrence H. & Summers, Lawrence H., 1989. "Tax policy, asset prices, and growth : A general equilibrium analysis," Journal of Public Economics, Elsevier, vol. 38(3), pages 265-296, April.
- Mercenier, Jean & Yeldan, Erinc, 1997. "On Turkey's trade policy: Is a customs union with Europe enough?," European Economic Review, Elsevier, vol. 41(3-5), pages 871-880, April.
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