| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP9301
|
| DP9301 Uncertainty and Trade Agreements |
| Giovanni Maggi; Nuno Limão
|
| 发表日期 | 2013-01-20
|
| 出版年 | 2013
|
| 语种 | 英语
|
| 摘要 | In this paper we explore the potential gains that a trade agreement (TA) can provide by regulating trade-policy uncertainty, in addition to the more standard gains from reducing the mean levels of trade barriers. We show that in a standard trade model with income-risk neutrality there tends to be an uncertainty-increasing motive for a TA. With income-risk aversion, on the other hand, the uncertainty-managing motive for a TA is determined by interesting trade-offs. For a given degree of risk aversion, an uncertainty-reducing motive for a TA is more likely to be present when the economy is more open, the export supply elasticity is lower and the economy is more specialized. Governments have stronger incentives to sign a TA when the trading environment is more uncertain. As exogenous trade costs decline, the gains from decreasing trade-policy uncertainty tend to become more important relative to the gains from reducing average trade barriers. We also derive simple |
| 主题 | International Trade and Regional Economics
|
| 关键词 | Agreements
investment
Policy uncertainty
Trade
|
| URL | https://cepr.org/publications/dp9301
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/538137
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推荐引用方式
GB/T 7714 |
Giovanni Maggi,Nuno Limão. DP9301 Uncertainty and Trade Agreements. 2013.
|
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