Trade Impact (trade + impact)

Distribution by Scientific Domains

Selected Abstracts

Seasonal protection of F&V imports in the EU: impacts of the entry price system

Jose-Maria Garcia-Alvarez-Coque
Entry price; Fruits and vegetables; Partial equilibrium; Trade policy Abstract The measures of border protection applied by the European Union (EU) to imports of fruits and vegetables (FV) are complex and usually not well represented in trade models, not only because of the range of instruments still constraining trade, but also because of product differentiation and seasonality in these products. This article assesses the impact of eliminating entry price (EP) constraints applied to a group of FV products. The proposed model is of a partial equilibrium nature and takes seasonality into account. We have applied the model to imports of tomatoes, cucumbers, clementines, and table grapes. Trade impacts of eliminating EP are significant for particular origins, during specific seasons, most notably for Moroccan tomatoes. The volumes and prices of products originating in the EU experience moderate reductions. [source]

On the Use of Multifactor Models to Evaluate Mutual Fund Performance

Joop Huij
We show that multifactor performance estimates for mutual funds suffer from systematic biases and argue that these biases are a result of miscalculating the factor premiums. Because the factor proxies are based on hypothetical stock portfolios and do not incorporate transaction costs, trade impact, and trading restrictions, the factor premiums are either over- or underestimated. We argue that factor proxies based on mutual fund returns rather than on stock returns provide better benchmarks to evaluate professional money managers. [source]

How would global trade liberalization affect rural and regional incomes in Australia?

Kym Anderson
Agricultural protection in rich countries, which had depressed Australian farm incomes via its impact on Australia's terms of trade, has diminished over the past two decades. So too has agricultural export taxation in poor countries, which has had the opposite impact on those terms of trade. Meanwhile, however, import protection for developing country farmers has been steadily growing. To what extent are Australian farmers and rural regions still adversely affected by farm and non-farm price- and trade-distortive policies abroad? This paper draws on new estimates of the current extent of those domestic and foreign distortions: first, to model their net impact on Australia's terms of trade (using the World Bank's Linkage model of the global economy); and second, to model the effects of that terms of trade impact on output and real incomes in rural versus urban and other regions and households within Australia as of 2004 (using Monash's multi-regional TERM model of the Australian economy). [source]

The use of eco-labels: a review of the literature

Dr Ibon Galarraga Gallastegui
Labelling programs seek first to encourage a move towards more environmentally friendly consumption patterns, and second to induce productive structures, governments and other agents to increase the environmental standards of the products and services in the economy. This paper is devoted to revising the relevant literature on the issue. We divide the topic into three areas: (i) the study of demand, where most of the information available on the demand for labelled goods is presented; (ii) the study of supply, devoted to the analysis and summary of the information available in the literature and finally (iii) the market and trade impacts of labelling programmes, where the research carried out so far is carefully presented. The paper reveals the lack of proper and conclusive research to date, as well as the complexity of the topic of research. Copyright 2002 John Wiley & Sons, Ltd. and ERP Environment. [source]