Trade and Welfare Effects of New Trade Policy Instruments

Yvonne Wolfmayr, Elisabeth Christen, Hendrik Mahlkow, Birgit Meyer and Michael Pfaffermayr

No 2024-02, FIW Research Reports series from FIW

Abstract: Abstract: Geoeconomic concepts are gaining importance in EU trade policy. In this context new trade policy instruments are designed to protect the internal market against unfair trade practices, coercive actions as well as to ensure sustainable supply chains and the protection of human rights. The study extensively overviews seven policy instruments: Anti-Coercion Instrument (ACI), Enforcement Regulation (ER), International Procurement Instrument (IPI), Carbon Border Adjustment Mechanism (CBAM), Corporate Sustainability Due Diligence (CSDD), Level Playing Field Provisions in the EU-UK Trade and Cooperation Agreement (LPF), and EU Regulation on Deforestation-Free Products (EUDR). Using gravity models and a quantitative general equilibrium trade model, the impact of the selected trade policy instruments on trade and welfare of the EU as well as Austria is estimated based on different scenarios.

Keywords: trade; Welfare; human rights; EU trade policy; unfair trade practices; sustainable supply chains; internal market; Geoeconomic concepts; trade policy instruments; Anti-Coercion Instrument; coercive actions; Foreign Subsidy Instrument; International Procurement Instrument; gravity models; Deforestation Initiative; Enforcement Regulation; EU-UK Trade and Cooperation Agreement; impact; Level Playing Field Provisions; quantitative general equilibrium trade model; Carbon Border Adjustment Mechanism; Corporate Sustainability Due Diligence (search for similar items in EconPapers)
JEL-codes: F13 F14 F15 F18 F55 Q01 Q56 (search for similar items in EconPapers)
Pages: 222
Date: 2024-01
New Economics Papers: this item is included in nep-env and nep-int
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Citations: View citations in EconPapers (1)

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Related works:
Book: Trade and Welfare Effects of New Trade Policy Instruments (2024)
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