Microeconomic and Macroeconomic Effects of TTIP (Transatlantic Trade and Investment Partnership)

Inhaltsverzeichnis (Table of Contents)

• Introduction
• Topical Issues of the Research
• The purpose and objective of the study
• Main hypothesis and auxiliary hypotheses
• Research Methodology
• Structure of Work
• The Transatlantic Trade and Investment Partnership
• Background
• The Multilateral Trade Liberalization
• General Agreements on Tariffs and Trade (GATT)
• World Trade Organization (WTO)
• DOHA Development Round
• Negotiating Objects and Integration Motives of TTIP
• Economic Effects of TTIP
• Microeconomic Effects on Sectors of Economic Activity
• Scenario of Selected Sectors
• The MIRAGE Model
• The Demand Side
• The Supply Side
• Capital and Investment
• Agriculture Modelling
• Results of the ifo-Study
• Effects Terms of Trade in Sector
• Multilateral World-Trade-System and the Rule of Origin
• Summary of the Microeconomic Effects
• Macroeconomic Effects
• The Market Model of Monopolistic Competition
• The MELITZ Model
• Productivity in the Melitz Model
• Free Market Entry Condition (FE)
• Zero Cutoff Profit (ZCP)
• Comparison of Autarky and Free Trade
• Impact of Trade Liberalization
• Simulation Results of the TTIP Study
• Reallocation Effects
• Effects on Macroeconomic Variables
• Effects on Labor Market
• Summary of the Macroeconomic Effects
• The Role of Standards in TTIP – Three Examples
• Chemistry
• Agriculture
• Data Protection
• TTIP Effects to Third Countries
• Effects on Turkey Economy
• Trade Relations between EU-US and Turkey
• Methodology
• Empirical Results
• Effects on Chinese Economy
• China's Trade Statistics
• Methodology
• Empirical Results
• Evaluation the Results

Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)

This research paper investigates the microeconomic and macroeconomic effects of the Transatlantic Trade and Investment Partnership (TTIP). The study aims to analyze the potential impact of TTIP on various sectors of economic activity, including trade, investment, and labor markets, both within the EU and the US, and on third countries like Turkey and China.

• The potential economic benefits and challenges of TTIP
• The impact of TTIP on different sectors of economic activity
• The role of standards and regulations in the TTIP agreement
• The implications of TTIP for third countries, particularly Turkey and China
• The broader implications of TTIP for the global economy

Zusammenfassung der Kapitel (Chapter Summaries)

The research paper explores the various aspects of the Transatlantic Trade and Investment Partnership (TTIP), focusing on its potential economic effects. The first chapter provides an introduction to the topic, outlining the research objectives, hypotheses, methodology, and the structure of the paper. The second chapter delves into the background of TTIP, discussing the historical context of multilateral trade liberalization and the motivations behind TTIP negotiations. The third chapter analyzes the economic effects of TTIP, covering both microeconomic and macroeconomic implications. This chapter examines the potential impact on specific sectors of economic activity, utilizing models like MIRAGE and MELITZ to simulate the effects of trade liberalization. The fourth chapter explores the potential effects of TTIP on third countries, specifically focusing on Turkey and China. The chapter examines the trade relations between the EU-US and these countries and utilizes empirical data to analyze the potential impact of TTIP.

Schlüsselwörter (Keywords)

The primary keywords and focus topics of the research paper encompass the Transatlantic Trade and Investment Partnership (TTIP), its microeconomic and macroeconomic effects, trade liberalization, investment, labor markets, standards and regulations, third-country effects, Turkey, China, and the global economy. The study also utilizes specific econometric models such as MIRAGE and MELITZ to analyze the potential impact of TTIP.

Frequently Asked Questions

What is TTIP?

TTIP stands for the Transatlantic Trade and Investment Partnership, a proposed trade agreement between the European Union and the United States aimed at promoting trade and economic growth.

What are the microeconomic effects of TTIP?

The research uses the MIRAGE model to analyze effects on specific sectors like agriculture and chemistry, focusing on changes in supply, demand, and terms of trade within these industries.

What are the macroeconomic effects of TTIP?

Using the MELITZ model, the study examines broader impacts on labor markets, GDP, and reallocation effects resulting from trade liberalization and monopolistic competition.

How does TTIP affect third countries like Turkey and China?

The study indicates that TTIP can lead to trade diversion, potentially negatively impacting the economies of third countries that are not part of the agreement but have strong trade ties with the EU or US.

What role do standards and regulations play in TTIP?

A significant part of TTIP negotiations involves the harmonization of standards in areas like data protection, agriculture, and chemicals to reduce non-tariff trade barriers.

What is the difference between the MIRAGE and MELITZ models?

MIRAGE is typically used for multi-sectoral, multi-regional computable general equilibrium analysis (micro), while the MELITZ model focuses on firm-level productivity and trade dynamics (macro).