Trade (dis)integration: the sudden death of NAFTA

Dimitrios Bakas, Karen Jackson, Georgios Magkonis

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    Abstract

    This paper uses a structural PVAR model to study the macroeconomic effects of trade disintegration among NAFTA members. The results reveal substantial asymmetric responses, showing that the US is the most affected economy from a sudden negative trade integration shock. Moreover, Canada and the US are found to be relatively more interconnected with each other compared to the Mexican economy. Our findings question the US decision to push for the renegotiation of the NAFTA agreement.
    Original languageEnglish
    Number of pages13
    JournalOpen Economies Review
    Early online date17 Dec 2019
    DOIs
    Publication statusEarly online - 17 Dec 2019

    Keywords

    • NAFTA
    • Panel VAR
    • Trade Integration

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