Arbeitspapier
Quantifying the EU-Japan Economic Partnership Agreement
This paper provides a quantitative analysis of the new EU-Japan free trade agreement (FTA), the biggest bilateral deal that both the EU and Japan have concluded so far. It employs a generalized variant of the Eaton-Kortum (2002) model, featuring multiple sectors, input-output linkages, services trade, and non-tariff barriers (NTBs). It uses the results of an econometric ex-post analysis of a related FTA, the one between the EU and Korea, in force since 2011, to approximate the expected reductions in the costs of NTBs. This approach yields long-run welfare effects for Japan of about 18 bn. USD per year (0.31% of GDP) and of about 15 bn. USD (0.10%) for the EU. On average, the agreement does not appear to harm third countries, but the Americas, Africa and MENA countries slightly lose. 14% of the welfare gains inside the FTA stem from tariffs, the remaining 86% from NTB reform, and the services sector accounts for more than half. In the EU, value added in the agri-food sector goes up most, while in Japan the manufacturing and services sectors gain.
- Sprache
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Englisch
- Erschienen in
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Series: CESifo Working Paper ; No. 7241
- Klassifikation
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Wirtschaft
Economic Integration
Trade: Forecasting and Simulation
Economic History: Transport, Trade, Energy, Technology, and Other Services: Europe: 1913-
- Thema
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free trade agreements
general equilibrium
quantitative trade models
Japan
European Union
- Ereignis
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Geistige Schöpfung
- (wer)
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Felbermayr, Gabriel
Kimura, Fukunari
Okubo, Toshihiro
Steininger, Marina
- Ereignis
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Veröffentlichung
- (wer)
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Center for Economic Studies and ifo Institute (CESifo)
- (wo)
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Munich
- (wann)
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2018
- Handle
- Letzte Aktualisierung
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29.04.0011, 11:41 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Felbermayr, Gabriel
- Kimura, Fukunari
- Okubo, Toshihiro
- Steininger, Marina
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2018