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Top scholars synthesize and analyze scholarship on this widely used tool of policy analysis in 27 articles, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top U.S. graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view. - Presents coherent summaries of CGE theories that inform major model types - Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results - Shows how CGE modeling has made a contribution to economic policy
Politicians and pundits can rage against free trade and globalization, but much of what they convey is myth says the author. He argues that free trade is good for the American family. Among the benefits he discusses are import competition that provides lower prices, greater variety, and better quality, especially for poor and middle class families. Driven in part by trade, most new jobs are well-paying service jobs. Foreign investment here has created well-paying jobs, and investment abroad has given United States companies access to millions of new customers. Trade helped expand the global middle class, reducing poverty and child labor while fueling demand for U.S. products. The author also looks at how the past three decades of an open global economy have created a more prosperous, democratic, and peaceful world.
The author presents substantial case studies of the effect of the abolition of quotas on global trade in this sector. Concentrating mainly on China and Pakistan but also examining India, Indonesia, Vietnam, and seven other Asian T&C manufacturing countries, he contrasts post-abolition reality with pre-abolition predictions of the impact of abolishing quotas, and details the continuing distortion caused by tariffs, non-tariff barriers and through trade remedies such as safeguards and anti-dumping. All of the analysis is supported by the judicious use and interpretation of extensive statistics, compelling arguments, and interviews with entrepreneurs and trade officials in Pakistan (as a case study of a country predicted to be a major beneficiary of quota expiry).