The liberalization of services trade: potential impacts in the aftermath of the Uruguay Round

Abstract

AbstractThe following sections are included:A description of the analytical modelAssumptions underlying the modelFull employmentBalanced tradeRents and revenuesFixed relative wagesFixed labor supplyPolicy input data: comments on reductions in tariffs and tariff equivalentsTariff rates on industrial productsTariff rates on agricultural productsServices-trade barriersModel simulationsSimulation 1Simulation 2Simulation 3Aggregate impacts of the three liberalization scenariosEconomic welfareReal wages and return to capitalSector-specific impacts of the three liberalization scenariosSimulation 1Simulation 2Simulation 3Appendix A Developing data on “tradable” servicesNotesReferences

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