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2017 J. Int'l Com. & Econ. 1 (2017)

handle is hein.journals/jice2017 and id is 1 raw text is: 












     The Impact of Liberalizing International

              Trade in Professional Services


                                Tamar Khachaturian
                       Office of Industries, Services Division

                                    David Riker
                      Office of Economics, Research Division

      Abstract

      We analyze trade in services using the economic model in Helpman, Melitz, and
      Yeaple (2004), which features multiple modes of supply and firm heterogeneity.
      We calibrate the model to the U.S. markets for architectural and engineering
      services and legal services, and then we estimate the economic impact of reducing
      fixed costs of supplying U.S. markets for these two types of professional services
      through cross-border trade and, alternatively, through affiliate transactions.
      Among other results, we estimate that reducing the fixed costs of trade in these
      professional services by half would have large effects on the value of cross-border
      imports into the U.S. market and on foreign affiliate sales in the U.S. market, but
      would have only small effects on the sales of domestic producers and on overall
      prices of the services in the U.S. market.


Suggested citation: Khachaturian, Tamar, and David Riker, The Impact of Liberalizing International
Trade in Professional Services. Journal of International Commerce and Economics, May 2017.
https://www.usitc. gov/iournals.

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