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Dynamic Issues in Commercial Policy Analysis : Centre for Economic Policy Research - Richard E. Baldwin

Dynamic Issues in Commercial Policy Analysis

Centre for Economic Policy Research

By: Richard E. Baldwin (Editor), Joseph F. Francois (Editor)

Paperback Published: 9th December 2010
ISBN: 9780521159517
Number Of Pages: 388

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Economists have long argued that dynamic effects of policy changes are much more important in the real world than static effects, but this is not reflected in the majority of applied trade studies. This book departs from mainstream trade modeling and examines the dynamic aspects of international trade and investment policy by explicitly specifying dynamic mechanisms in a wide range of modeling approaches. With contributions from leading economists Dynamic Issues In Commercial Policy Analysis will become a standard reference in international trade and policy research.

List of figuresp. xi
List of tablesp. xiv
Prefacep. xvii
List of conference participantsp. xviii
Introductionp. 1
Neoclassical growth and tradep. 1
Endogenous growth and tradep. 7
Other dynamic issuesp. 10
Transition dynamics and trade policy reform in developing countriesp. 14
Introductionp. 14
Empirical studies of trade and growthp. 16
Trade reforms and steady-state effectsp. 26
Policy reform and transitional effectsp. 28
Concluding observationsp. 36
Discussionp. 41
Putting growth effects in computable equilibrium trade modelsp. 44
Introductionp. 44
Analytical considerationsp. 46
Illustration of key trade and growth linksp. 55
Practical considerationsp. 68
The simulation modelp. 71
Summary and concluding remarksp. 76
Appendix: Transitional dynamics with Tobin's qp. 77
Discussionp. 85
Innovation, capital accumulation, and economic transitionp. 89
Introductionp. 89
A growth model of the world economyp. 93
Long-run growthp. 102
Calibration to Western and CEEC countriesp. 106
Transition pathp. 108
The role of policyp. 114
Conclusionsp. 123
More on calibrationp. 125
Data sourcesp. 132
Multinational production, skilled labour, and real wagesp. 138
Introductionp. 138
Model structurep. 141
Forces at workp. 144
Entry of multinationals as a result of investment liberalization: countries differ in relative endowmentsp. 147
Entry of multinationals as a result of investment liberalization: countries differ in size (absolute endowments)p. 151
The real wage of skilled labourp. 155
Trade costsp. 157
Comparative steady-state analysisp. 160
Conclusionsp. 167
Discussionp. 173
Economic policy and the manufacturing base: hysteresis in locationp. 177
Introductionp. 177
The modelp. 179
One industry, two countriesp. 181
Energy taxation in the chemical industry: a calibrated examplep. 189
Cournot competitionp. 193
Conclusionsp. 194
Discussionp. 196
Trade liberalization and investment in a multilateral frameworkp. 202
Introductionp. 202
Accumulation theoryp. 203
A numerical example: the Uruguay Roundp. 209
Conclusionsp. 220
Appendix: A dual treatment of accumulation effectsp. 221
Discussionp. 223
Investment creation and investment diversion: simulation analysis of the Single Market programmep. 228
Introductionp. 228
The prima facie case for investment diversionp. 229
An illustrative theoretical modelp. 238
The simulation modelp. 245
Resultsp. 251
Summary and concluding remarksp. 263
Discussionp. 266
Blueprints, spillovers, and the dynamic gains from trade liberalization in a small open economyp. 269
Introductionp. 269
The modelp. 272
Benchmark data and calibrationp. 278
Model resultsp. 282
Modelling adjustment costsp. 304
Calibration of the IRTS submodelp. 306
Equilibrium conditionsp. 309
Discussionp. 316
Trade policy and North-South migrationp. 323
Introductionp. 323
Backgroundp. 325
Theoretical considerationsp. 328
Numerical simulationsp. 336
Summaryp. 338
Appendix: Migration and trade policy - numerical examplesp. 339
Long-term modelling of trade and environmental linkagesp. 345
Introductionp. 345
The basic modelp. 347
Policy interventions for trade and pollution reformp. 349
An application to Indonesiap. 354
Conclusionsp. 358
Appendix: A summary overview of the Indonesian modelp. 360
Labour markets and dynamic comparative advantagep. 367
Introductionp. 367
The basic modelp. 368
An application to Chinap. 372
Conclusions and extensionsp. 376
Indexp. 379
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ISBN: 9780521159517
ISBN-10: 0521159512
Series: Centre for Economic Policy Research
Audience: Professional
Format: Paperback
Language: English
Number Of Pages: 388
Published: 9th December 2010
Country of Publication: GB
Dimensions (cm): 22.86 x 15.24  x 2.31
Weight (kg): 0.59