Publication Number: 3583

Report Title: International Economic Review: Key Methods for Quantifying the Effects of Trade Liberalization

Author's name(s): Sandra A. Rivera

Date Published: February 2003

Report Description/Introductory Text: “Key Methods for Quantifying the Effects of Trade Liberalization” examines three key methods for quantifying the economic effects of removing import restraints on production, trade, employment, and economic welfare. Although many methodological tools exist for analyzing these effects, three models are commonly employed by economists: gravity, partial equilibrium, and general equilibrium models. Each model has relative strengths and weaknesses, which are described in this paper.

Topics Covered: USITC, economic effects, economic welfare, gravity model, partial equilibrium (PE) models, general equilibrium models, computable general equilibrium (CGE)

Countries: United States, Japan, Korea (North), China

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