Modeling Trade Policy: Applied General Equilibrium Assessments of North American Free Trade

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Format: Paperback
Pub. Date: 2008-12-11
Publisher(s): Cambridge University Press
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Summary

Applied general equilibrium (AGE) models have received considerable attention and scrutiny in the public debate over the North American Free Trade Agreement (NAFTA). This collection brings together the leading AGE models that have been constructed to analyse NAFTA. A variety of approaches to modelling trade liberalization are taken in these studies, including multi-country and multi-sectoral models, models that focus on institutional features of particular sectors (agricultural, autos, steel, textiles and apparel) affecting multinational firms and rules of origin, and models with some inter-temporal structure. Further, by constructing stylized models, theoretical linkages have been identified that drive numerical results in the larger AGE models. The volume also assesses what can be learned about the likely economic effects of NAFTA from the collection of studies taken as a whole. Areas in need of further study have been highlighted.

Table of Contents

Introduction
Age models of North American free trade: an Introduction
Multisector Models
A general equilibrium analysis of North American economic integration
The gains for Mexico from a North American free trade agreement - an applied general equilibrium assessment
Some applied general equilibrium estimates of the impact of a North American free trade area on Canada
Properties of applied general equilibrium trade models with monopolistic competition and foreign direct investment
Sector-Focused Models
Agriculture in the Mexico-US free trade agreement: a general equilibrium analysis
Wage changes in a U.S.-Mexico free trade area: migration versus Stolper-Samuelson effects
The auto industry and the North American free-trade agreement
Bilateral trade liberalization in quota restricted items: U.S. and Mexico in textiles and steel
Dynamic Models
A dynamic dual model of the North American free trade agreement
Towards a dynamic general equilibrium model of North American trade
Table of Contents provided by Publisher. All Rights Reserved.

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