European Trade and Welfare after `1992'

L. Winters

No 678, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: This paper reviews estimates of the effects of `1992' on international trade and welfare, and the policy implications of those estimates. It surveys earlier research starting with the Cecchini Report of 1988 and then summarizes some new results based on general equilibrium modelling with imperfectly competitive industries. These suggest significant gains to integration. Other work surveyed suggests that in some industries, however, integration could be harmful, that taxing EC industry might be beneficial and that current estimates of `1992' might be based on seriously overestimated price elasticities.

Keywords: 1992; European Community; Integration; Single Market (search for similar items in EconPapers)
JEL-codes: F12 F13 F14 F15 F17 (search for similar items in EconPapers)
Date: 1992-06
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Citations: View citations in EconPapers (3)

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