{"id":125240,"date":"2024-01-23T09:36:50","date_gmt":"2024-01-23T08:36:50","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/125240\/"},"modified":"2024-11-07T05:41:36","modified_gmt":"2024-11-07T04:41:36","slug":"a-macroeconomic-model-of-cetas-impact-on-austria","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/125240\/","title":{"rendered":"A Macroeconomic Model of CETA's Impact on Austria"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-125240","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"The Comprehensive Economic and Trade Agreement (CETA) between the European Union and Canada is the most ambitious (new generation) free trade agreement the EU has ever negotiated. It is a \"mixed\" agreement with EU and member countries competences. Most elements of the agreement for which the EU has \"exclusive competence\", including the chapter on tariffs and non-tariff barriers (the dismantling of all barriers to trade in goods and services and market access to foreign direct investment) can \u2013 after the European Parliament gave its consent on 15 February 2017 \u2013 be applied provisionally in spring 2017. With a specifically constructed macroeconomic trade and growth model for Austria, we simulate the impact of CETA on Austria. CETA will add 0.3 percent to Austria's real GDP in the medium run and will stimulate bilateral trade and FDI. Our model is a small prototype model and can easily be applied to other foreign trade agreements the EU is planning. A comparison shows that TTIP \u2013 which is \"politically\" dead now \u2013 would have the biggest impact (real GDP +1.7 percent).The almost finished negotiated EU-Japan foreign trade agreement would result in an increase of Austria's real GDP by 0.4 percent in the medium run.","onlinedate":"2017-03-31 12:00:00","lang":"English","publication_series":"","publication_date":"20170301","publication_date_year":"","publication_date_full":false,"publication_num_pages":"33","keywords":"[\"European Union\",\"Free trade agreement\",\"open-economy macroeconomics\"]","jelcodes":"[\"F14\",\"F15\",\"F17\"]","related_publications":"[]","pdf":367355,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"532","journal":"WIFO Working Papers","publisher":"","invisible":false,"external":false,"embargo_date":"2017-03-31 12:00:00","types":[44410],"research_groups":[3500],"collaboration":"","persons":[3917],"persons_data":"[{\"personId\":3917,\"personName\":\"Fritz Breuss\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>Breuss, F.<\\\/span> (2017). <span>A Macroeconomic Model of CETA's Impact on Austria<\\\/span>. <span><em>WIFO Working Papers<\\\/em><\\\/span>, (532). <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/59418\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/59418<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Breuss F<\\\/span>. <span class=\\\"title\\\"><span>A Macroeconomic Model of CETA's Impact on Austria<\\\/span><\\\/span>. <span>WIFO Working Papers<\\\/span>. 2017 Mar;(532).<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{559b7c486d4e465c8164a59e86511700,<\\\/div><div>  title    = \\\"A Macroeconomic Model of CETA's Impact on Austria\\\",<\\\/div><div>  abstract = \\\"The Comprehensive Economic and Trade Agreement (CETA) between the European Union and Canada is the most ambitious (new generation) free trade agreement the EU has ever negotiated. It is a {\\\"}mixed{\\\"} agreement with EU and member countries competences. Most elements of the agreement for which the EU has {\\\"}exclusive competence{\\\"}, including the chapter on tariffs and non-tariff barriers (the dismantling of all barriers to trade in goods and services and market access to foreign direct investment) can \u2013 after the European Parliament gave its consent on 15 February 2017 \u2013 be applied provisionally in spring 2017. With a specifically constructed macroeconomic trade and growth model for Austria, we simulate the impact of CETA on Austria. CETA will add 0.3 percent to Austria's real GDP in the medium run and will stimulate bilateral trade and FDI. Our model is a small prototype model and can easily be applied to other foreign trade agreements the EU is planning. A comparison shows that TTIP \u2013 which is {\\\"}politically{\\\"} dead now \u2013 would have the biggest impact (real GDP +1.7 percent).The almost finished negotiated EU-Japan foreign trade agreement would result in an increase of Austria's real GDP by 0.4 percent in the medium run.\\\",<\\\/div><div>  keywords = \\\"European Union, Free trade agreement, open-economy macroeconomics, European Union, Free trade agreement, open-economy macroeconomics\\\",<\\\/div><div>  author   = \\\"Fritz Breuss\\\",<\\\/div><div>  note     = \\\"CETA's Impact on Austria\\\",<\\\/div><div>  year     = \\\"2017\\\",<\\\/div><div>  month    = mar,<\\\/div><div>  language = \\\"English\\\",<\\\/div><div>  journal  = \\\"WIFO Working Papers\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - A Macroeconomic Model of CETA's Impact on Austria<\\\/p><p>AU  - Breuss, Fritz<\\\/p><p>N1  - CETA's Impact on Austria<\\\/p><p>PY  - 2017\\\/3<\\\/p><p>Y1  - 2017\\\/3<\\\/p><p>N2  - The Comprehensive Economic and Trade Agreement (CETA) between the European Union and Canada is the most ambitious (new generation) free trade agreement the EU has ever negotiated. It is a \\\"mixed\\\" agreement with EU and member countries competences. Most elements of the agreement for which the EU has \\\"exclusive competence\\\", including the chapter on tariffs and non-tariff barriers (the dismantling of all barriers to trade in goods and services and market access to foreign direct investment) can \u2013 after the European Parliament gave its consent on 15 February 2017 \u2013 be applied provisionally in spring 2017. With a specifically constructed macroeconomic trade and growth model for Austria, we simulate the impact of CETA on Austria. CETA will add 0.3 percent to Austria's real GDP in the medium run and will stimulate bilateral trade and FDI. Our model is a small prototype model and can easily be applied to other foreign trade agreements the EU is planning. A comparison shows that TTIP \u2013 which is \\\"politically\\\" dead now \u2013 would have the biggest impact (real GDP +1.7 percent).The almost finished negotiated EU-Japan foreign trade agreement would result in an increase of Austria's real GDP by 0.4 percent in the medium run.<\\\/p><p>AB  - The Comprehensive Economic and Trade Agreement (CETA) between the European Union and Canada is the most ambitious (new generation) free trade agreement the EU has ever negotiated. It is a \\\"mixed\\\" agreement with EU and member countries competences. Most elements of the agreement for which the EU has \\\"exclusive competence\\\", including the chapter on tariffs and non-tariff barriers (the dismantling of all barriers to trade in goods and services and market access to foreign direct investment) can \u2013 after the European Parliament gave its consent on 15 February 2017 \u2013 be applied provisionally in spring 2017. With a specifically constructed macroeconomic trade and growth model for Austria, we simulate the impact of CETA on Austria. CETA will add 0.3 percent to Austria's real GDP in the medium run and will stimulate bilateral trade and FDI. Our model is a small prototype model and can easily be applied to other foreign trade agreements the EU is planning. A comparison shows that TTIP \u2013 which is \\\"politically\\\" dead now \u2013 would have the biggest impact (real GDP +1.7 percent).The almost finished negotiated EU-Japan foreign trade agreement would result in an increase of Austria's real GDP by 0.4 percent in the medium run.<\\\/p><p>KW  - European Union<\\\/p><p>KW  - Free trade agreement<\\\/p><p>KW  - open-economy macroeconomics<\\\/p><p>KW  - European Union<\\\/p><p>KW  - Free trade agreement<\\\/p><p>KW  - open-economy macroeconomics<\\\/p><p>M3  - WIFO series<\\\/p><p>JO  - WIFO Working Papers<\\\/p><p>JF  - WIFO Working Papers<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>A Macroeconomic Model of CETA&#039;s Impact on Austria - 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