Versatility and Specificity of PE Models for Trade Policy Analysis

Saad Ahmad and David Riker

No 333160, Conference papers from Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project

Abstract: The ex-ante effects of trade agreements are usually predicted with economy-wide models under a general equilibrium closure so that inter-industry linkages are accounted for in the policy simulation. However, modern trade agreements increasingly have policies that target specific industries and are not easily accounted for in the economy-wide analysis. In these instances, partial equilibrium (PE) models can play a key role in the analysis by examining in detail the impact of industry-specific trade provisions and then incorporating these expected trade effects in the overall economy-wide model. This paper shows how PE models can be used to map industry-specific trade policies and highlights some provisions in the recent U.S.-Mexico-Canada Agreement (USMCA) that are well suited for a PE analysis.

Keywords: International; Relations/Trade (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:ags:pugtwp:333160

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