@article{Itakura:333031,
      recid = {333031},
      author = {Itakura, Ken and Lee, Hiro},
      title = {Estimating the Effects of the CPTPP and RCEP in a General  Equilibrium Framework with Global Value Chains},
      address = {2019},
      year = {2019},
      note = {Presented at the 22nd Annual Conference on Global Economic  Analysis, Warsaw, Poland},
      abstract = {We have witnessed increasing prominence of trade in  intermediate products. International fragmentation of  production chains has been motivated by sourcing  intermediate inputs from more cost-efficient producers to  enhance efficiency. In order to estimate the effects of  trade agreements on countries linked to global value chains  (GVCs) more accurately, we utilize the GTAP database and  inter-country input-output tables to construct a global  computable general equilibrium (CGE) model that  disaggregates imports of intermediate products by country  of origin. Using this modified model, we estimate the  welfare and sectoral output effects of two mega-regional  trade agreements (MRTAs) involving Asian countries -- the  Comprehensive and Progressive Agreement for Trans-Pacific  Partnership (CPTPP) and the Regional Comprehensive Economic  Partnership (RCEP). The initial results suggest that while  incorporating the GVC structure does not significantly  affect the overall welfare results, the magnitudes of  changes in sectoral output become considerably greater in  several industries.},
      url = {http://ageconsearch.umn.edu/record/333031},
}