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Macroeconomic Potentials of Transatlantic Free Trade : a High Resolution Perspective for Europe and the World

Title data

Heid, Benedikt ; Felbermayr, Gabriel ; Larch, Mario ; Yalcin, Erdal:
Macroeconomic Potentials of Transatlantic Free Trade : a High Resolution Perspective for Europe and the World.
In: Economic Policy. Vol. 30 (2015) Issue 83 . - pp. 491-537.
ISSN 1468-0327
DOI: https://doi.org/10.1093/epolic/eiv009

Abstract in another language

The proposed Transatlantic Trade and Investment Partnership (TTIP) is the most significant trade policy initiative since the Uruguay Round (1986 to 1994). It would create a free trade zone covering 45% of world GDP. However, critics dismiss the possible welfare gains as small compared to the risks. In this paper, we provide results based on a structurally estimated general equilibrium trade model. Assuming that the TTIP will reduce transatlantic trade costs by as much as existing bilateral agreements have reduced trade costs between their trade partners, we find that a TTIP could result in very substantial gains for Germany (+3.5%), Europe (3.9%), and the world (+1.6%), but that it could also harm third countries.

Further data

Item Type: Article in a journal
Refereed: Yes
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Economics > Lehrstuhl Volkswirtschaftslehre VI: Empirische Wirtschaftsforschung
Faculties > Faculty of Law, Business and Economics > Department of Economics > Lehrstuhl Volkswirtschaftslehre VI: Empirische Wirtschaftsforschung > Lehrstuhl für Volkswirtschaftslehre VI: Empirische Wirtschaftsforschung - Univ.-Prof. Dr. Mario Larch
Faculties
Faculties > Faculty of Law, Business and Economics
Faculties > Faculty of Law, Business and Economics > Department of Economics
Result of work at the UBT: Yes
DDC Subjects: 300 Social sciences > 330 Economics
Date Deposited: 14 Oct 2015 11:15
Last Modified: 14 Oct 2015 11:15
URI: https://eref.uni-bayreuth.de/id/eprint/16546