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Accounting for the new gains from trade liberalization


Hsieh, Chang-Tai; Li, Nicholas; Ossa, Ralph; Yang, Mu-Jeung (2016). Accounting for the new gains from trade liberalization. NBER Working Papers 22069, National Bureau of Economic Research.

Abstract

We measure the "new" gains from trade reaped by Canada as a result of the Canada-US Free Trade Agreement (CUSFTA). We think of the "new" gains from trade of a country as all welfare e¤ects pertaining to changes in the set of firms serving that country as emphasized in the so-called "new" trade literature. To this end, we first develop an exact decomposition of the gains from trade which separates "traditional" and "new" gains. We then apply this decomposition using Canadian and US micro data and find that the "new" welfare effects of CUSFTA on Canada were negative.

Abstract

We measure the "new" gains from trade reaped by Canada as a result of the Canada-US Free Trade Agreement (CUSFTA). We think of the "new" gains from trade of a country as all welfare e¤ects pertaining to changes in the set of firms serving that country as emphasized in the so-called "new" trade literature. To this end, we first develop an exact decomposition of the gains from trade which separates "traditional" and "new" gains. We then apply this decomposition using Canadian and US micro data and find that the "new" welfare effects of CUSFTA on Canada were negative.

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Additional indexing

Item Type:Working Paper
Communities & Collections:03 Faculty of Economics > Department of Economics
Dewey Decimal Classification:330 Economics
JEL Classification:F10, F12, F14
Language:English
Date:March 2016
Deposited On:22 Mar 2017 14:02
Last Modified:02 Feb 2018 12:27
Series Name:NBER Working Papers
Number of Pages:49
OA Status:Green
Official URL:http://www.nber.org/papers/w22069.pdf
Related URLs:http://www.nber.org/papers/w22069

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