Measuring the benefits of unilateral trade liberalization; part 2: dynamic models

Carlos Zarazaga

Economic and Financial Policy Review, 2000, issue Q1, 29-39

Abstract: This is the second of two articles examining the potential welfare gains or losses from a unilateral move toward free trade. Part 1 concluded that applied static models of international trade fail to produce eye-popping positive welfare effects. In Part 2, Carlos Zarazaga reviews available applied dynamic general equilibrium models. He finds that the promises of larger welfare gains from unilateral trade liberalization do materialize in some dynamic models. However, other models cannot completely dismiss some common objections to the adoption of unilateral free trade policies. Zarazaga also identifies the controversial theoretical and empirical issues behind those objections that will have to be resolved before unilateral trade liberalization is accepted as the definitive, welfare-improving alternative to costly and prolonged multilateral trade agreements.

Date: 2000
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://www.dallasfed.org/~/media/documents/research/efr/2000/efr0001c.pdf Full Text (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedder:y:2000:i:q1:p:29-39

Ordering information: This journal article can be ordered from

Access Statistics for this article

More articles in Economic and Financial Policy Review from Federal Reserve Bank of Dallas Contact information at EDIRC.
Bibliographic data for series maintained by Amy Chapman ().