Trade agreements as incomplete contracts

Trade Agreements as Endogenously Incomplete Contracts

Trade Agreements as Endogenously Incomplete Contracts by Henrik Horn, Giovanni Maggi and Robert W. Staiger. Published in volume 100, issue 1, pages 394-419 ...

Trade Agreements as Incomplete Contracts | NBER

A simple incomplete-contracting model of trade agreements in which the contractual incompleteness arises from the presence of contracting costs.

Trade Agreements as Endogenously Incomplete Contracts

The World Trade Organization (WTO) regulation of trade in goods –the General Agreement on Tariffs and Trade (GATT) –is obviously a highly incomplete contract.

Trade Agreements as Endogenously Incomplete Contracts - jstor

We propose a model of trade agreements in which contracting is costly, and as a consequence the optimal agreement may be incomplete. In spite of its sim.

NBER WORKING PAPER SERIES TRADE AGREEMENTS AS ...

TRADE AGREEMENTS AS ENDOGENOUSLY INCOMPLETE CONTRACTS. Henrik Horn. Giovanni Maggi. Robert W. Staiger. Working Paper 12745 http://www.nber.org/papers/w12745.

Trade Agreements as Endogenously Incomplete Contracts - CDN

Consider two possible sources of uncertainty: consumption externality () and import demand level (). Timing: (1) The agreement is drafted; (2) Uncertainty is ...

Trade Agreements, Political Economy, and Endogenously Incomplete

Similar to Horn et al (2010), we find the coexistence of uncertainty and contracting costs make optimal trade agreements incomplete contracts. Our model helps ...

Trade Agreements as Endogenously Incomplete Contracts

We propose a model of trade agreements in which contracting is costly, and as a consequence the optimal agreement may be incomplete.

6 The GATT/WTO as an Incomplete Contract - MIT Press Direct

Even when the set of policies covered by a trade agreement is assumed to be incomplete, as when governments possess multiple policy instru- ments but only ...

Trade Agreements as Endogenously Incomplete Contracts

We propose a model of trade agreements in which contracting is costly, and as a consequence the optimal agreement may be incomplete.

Trade Agreements, Incomplete Contracts and Offshoring - CDN

Trade Agreements as Incomplete Contracts. Lecture II. Trade Disputes and Settlement. Lecture III. Trade Agreements and Offshoring. Staiger (Wisconsin). Trade ...

Trade Agreements as Endogenously Incomplete Contracts - EconStor

We propose a model of trade agreements in which contracting is costly, and as a consequence the optimal agreement may be incomplete.

(a) The economic rationale for trade agreements

However, a trade agreement (similar to contracts in other domains of economic, political or social interaction) is a highly incomplete contract.16 By this, we ...

Trade Agreements, Political Economy and Endogenously ...

Similar to Horn et al (2010), we find the coexistence of uncertainty and contracting costs make optimal trade agreements incomplete contracts. Our model helps ...

Trade Agreements as Endogenously Incomplete Contracts - S-WoPEc

Abstract: We propose a model of trade agreements in which contracting is costly, and as a consequence the optimal agreement may be incomplete.

(PDF) Trade Agreements as Endogenously Incomplete Contracts

... Again, a trade agreement may be mutually beneficial. Trade agreements might also help by saving on contracting costs in an incomplete contracting ...

Causes and Problems - Applying Incomplete Contract Theory

However, the agreed-upon trade in services (“TIS”) agreement consists of only one article: a renegotiation clause. Thus, after three years of negotiation, the ...

Trade Agreements, Political Economy and Endogenously ...

Similar to Horn et al (2010), we find the coexistence of uncertainty and contracting costs make optimal trade agreements incomplete contracts. Our model helps ...

Trade agreements as incomplete contracts - GoTriple

Trade Agreements as Endogenously Incomplete Contracts · The political economy of deep integration · Trade Agreements and Supply Chains · European Union, China and ...

How Important Can the Non-violation Clause Be for the GATT/WTO?

The "non-violation" clause of GATT is Exhibit A for the proposition that international trade agreements are incomplete contracts.