Transatlantic Trade and Investment Partnership (TTIP). Who benefits from a free trade deal? Part 1: Macroeconomic effects. Bertelsmann Studies

Felbermayr, Gabriel and Heid, Benedikt and Lehwald, Sybille (2013) Transatlantic Trade and Investment Partnership (TTIP). Who benefits from a free trade deal? Part 1: Macroeconomic effects. Bertelsmann Studies. UNSPECIFIED.

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Abstract

This first part of the study is devoted to the macroeconomic effects of a Transatlantic Trade and Investment Partnership (TTIP) between the European Union and the USA. For this purpose, empirical models of the world economy were used to clarify two essential scenarios: (i) the elimination of tariffs in trade between the EU and the USA, and (ii) a liberalization that goes far beyond just eliminating tariffs at a scale that can be measured for comparable and actually existing free-trade agreements. Our approach differs from the traditional way of dealing with subject in that the comprehensive scenario (ii) is defined using measurable experience with similar agreements, not guesses about what is considered politically possible. Our results thus show potentials against which the success of the agreement can be measured ex post facto.

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