S08classnotes6april17

S08classnotes6april17 - ECON 464 April 17, 2008 Federico...

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ECON 464 April 17, 2008 Federico Díez (Replacing María…)
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Agenda: 1.Regional Trade Agreements 1.1.Definitions 1.2.Trade Creation & Diversion 1.2.1.Case of Canada 2.Trade and Environment 2.1.Tragedy of Commons 2.1.1.Trade in Buffalo 2.2.International Agreements on Pollution 2.2.1.Nash equilibrium 3.Exchange rates 3.1.Definitions 3.2.ER regimes 3.3.PPP and real ER 3.3.1.Big Mac Index
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Regional Trade Agreements : 1- Free-Trade Area : eliminate tariffs inside group. 2- Custom Union : (1) + common external tariffs. 3- Common Market : (1) + (2) + free factor movements (capital, labor). Æ Rules of origin (for (1) only). Trade Creation : lower tariffs increase imports from partner countries. Trade Diversion : imports from non-partner countries may decrease.
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: Prof. Trefler found that: 1.Canadian imports from the U.S. increased by 54%. 2.Canadian imports from the rest of the world decreased by 40%. But imports from the U.S. account for 80%
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This note was uploaded on 08/08/2008 for the course ECON 464 taught by Professor Maria during the Spring '08 term at University of Wisconsin.

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S08classnotes6april17 - ECON 464 April 17, 2008 Federico...

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