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dc.contributor.authorFREUND, Caroline
dc.contributor.authorOLIVER, Sarah
dc.date.accessioned2015-09-22T09:10:13Z
dc.date.available2015-09-22T09:10:13Z
dc.date.issued2015
dc.identifier.issn1028-3625
dc.identifier.urihttps://hdl.handle.net/1814/37055
dc.description.abstractRegulatory standards protect consumers from defective products, but they impede trade when they differ across countries. The Transatlantic Trade and Investment Partnership (TTIP) seeks to reduce distortions in the automobile and other industries. This paper evaluates the equivalence of automobile regulations in the United States and the European Union in terms of catastrophe avoidance and estimates the trade gains from improved regulatory coherence. The UN 1958 Agreement on automobiles, which offers a framework for harmonizing regulations among signatories, is used to quantify the trade effect of regulatory convergence. The removal of regulatory differences in autos is estimated to increase trade by 20 percent or more. The effect on trade from harmonizing standards is only slightly smaller than the effect of EU accession on auto trade. The large economic gains from regulatory harmonization imply that TTIP has the potential to improve productivity while lowering prices and enhancing variety for consumers.en
dc.format.mimetypeapplication/pdfen
dc.language.isoenen
dc.relation.ispartofseriesEUI RSCASen
dc.relation.ispartofseries2015/59en
dc.relation.ispartofseriesGlobal Governance Programme-182en
dc.relation.ispartofseriesGlobal Economicsen
dc.rightsinfo:eu-repo/semantics/openAccessen
dc.subjectRegulatory harmonizationen
dc.subjectDifference-in-differencesen
dc.subjectTrade agreementen
dc.subject.otherTrade, investment and international cooperation
dc.titleGains from convergence in US and EU auto regulations under the Transatlantic Trade and Investment Partnershipen
dc.typeWorking Paperen
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