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The number of bilateral and multilateral trade agreements has surged in recent years. In order to benefit from preferential tariff rates,firms must apply and comply with rules of origin requirements. This is costly and explains why preference utilization rates (PUR) are far below 100 percent. In...
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Why are trade agreements regional? I address this question in a model of oligopoly featuring product variety. Tariffs have the effect of manipulating a country's terms of trade and shifting profits towards the domestic market at the expense of foreign trade partners. Countries endogenously form...
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The United States in a global economy -- International economic institutions since World War II -- Comparative … advantage and the gains from trade -- Comparative advantage and factor endowments -- Beyond comparative advantage -- The theory … policy reform in Latin America -- Export-oriented growth in East Asia -- China and India in the world economy …
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