Sang-Wook (Stanley) Cho; Diaz, Julian P. - School of Economics, UNSW Business School - 2008
degree. 1
JEL classi cation: D58, F14, F15.
Keywords: Trade Liberalization, Free Trade Agreement, Customs Union, Social … factor prices are larger than the benchmark customs union simulation.
3
Aggregate consumer welfare is approximately 27 … percent larger under the free trade agreement
than under the customs union case. However, due to tari revenue loss, government …