add up. This seems to be especially common in the case of debates on trade policy. This paper is intended to clarify some … of the key issues. The first part is a simple accounting exercise showing that a large trade deficit implies that a … budget deficits and negative private savings are generally viewed as undesirable, this means that a lower trade deficit …

potential gains of the TPP, and more than five times as large as the possible gains resulting from a much broader trade agenda. …Recent estimates of the U.S. economic gains that would result from the proposed Trans-Pacific Partnership (TPP) are … very small — only 0.13 percent of GDP by 2025. Taking into account the un-equalizing effect of trade on wages, this paper …

's main structural model, ToTEM (Terms-of-Trade Economic Model), to replicate that experience and consider options for …

estimates the short and long run elasticities of India's trade. This brings out the need for structural reforms in raising the …. The fiscal stimulus effects indicate the importance of fiscal consolidation efforts to sustain high growth. The trade …