A 'New Trade' Theory of GATT/WTO Negotiations
NBER Working Paper No. 16388
I suggest a novel theory of GATT/WTO negotiations based on the Krugman (1980) "new trade" model. It emphasizes international production relocations and is easy to calibrate to bilateral trade data. Focusing on the major players in recent GATT/WTO negotiations, I find that it implies reasonable noncooperative tariffs as well as moderate gains from GATT/WTO negotiations.
Document Object Identifier (DOI): 10.3386/w16388
Published: “A “ New Trade ” Theory of GATT/WTO Negotiations” Journal of Political Economy 119(1):122 - 152 , February 2011
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