FTA in international finance : impacts of exchange rates on FTA utilization

This paper investigates how exchange rates affect the utilization of a free trade agreement (FTA) scheme in trading. Changes in exchange rates affect FTA utilization by two ways. The first way is by changing the excess profits gained by utilizing the FTA scheme, and the second way is by promoting the compliance of rules of origin. Our theoretical models predict that the depreciation of exporters' currency against that of importers enhances the likelihood of FTA utilization through those two channels. Furthermore, our empirical analysis, which is based on rich tariff-line-level data on the utilization of FTA schemes in Korea's imports from ASEAN countries, supports the theoretical prediction. We also show that the effects are smaller for more differentiated products.

Simulation analysis of the EU ELV/RoHS directives based on an applied general equilibrium model with Melitz-type trade specification

This paper explores the potential usefulness of an AGE model with the Melitz-type trade specification to assess economic effects of technical regulations, taking the case of the EU ELV/RoHS directives as an example. Simulation experiments reveal that: (1) raising the fixed exporting cost to make sales in the EU market brings results that exports of the targeted commodities (motor vehicles and parts for ELV and electronic equipment for RoHS) to the EU from outside regions/countries expand while the domestic trade in the EU shrinks when the importer's preference for variety (PfV) is not strong; (2) if the PfV is not strong, policy changes that may bring reduction in the number of firms enable survived producers with high productivity to expand production to be large-scale mass producers fully enjoying the fruit of economies of scale; and (3) When the strength of the importer's PfV is changed from zero to unity, there is the value that totally changes simulation results and their interpretations.

On the testing of large PV arrays

This paper reports on the IES-UPM experience from 2006 to 2010 in the field of the characterization of PV arrays of commercial large PV plants installed in Spain within the framework of the profitable economic scenarios associated to feed-in tariff laws. This experience has extended to 200 MW and has provided valuable lessons to minimize uncertainty, which plays a key role in quality assurance procedures. The paper deals not only with classic I–V measurements but also with watt-metering-based procedures. Particular attention is paid to the selection of irradiance and cell temperature sensors

Renewable energies Driven by Feed-on Tariffs. Photovoltaic vs Wind Energy Development in Spain

Although others regulations regarding feed-in tariffs for photovoltaics (PV) existed in Spain previously, the one that meant a paradigm change was the introduction in 2007 of law R.D.661/2007 which established a feed-in tariff of 41,75 cents/kWh if the installed capacity was greater than 100KWp and 44,04 cents/kWh if it was smaller. The high level of the subsidies together with the lack of a limit for the total installed capacity originates the well-known Spanish photovoltaic boom. In September 2008 the installed PV capacity accounted for 3.2GWp (while the official objective stated in the national renewable roadmap was only 400MWp). To avoid this situation a new law, R.D. 1578/2008, was proclaimed which established a decreasing feed-in tariff of 32 cents/kWh (for ground installations) and 34 cents/kWh (for rooftops) and it limited the annual installed capacity to 500MWp. Although it was successful in limiting the PV subsidies total costs, the successive and sudden changes in regulations resulted very harmful to the local PV industry. In this article, the strong influence of feed-in tariff in the development of PV installed capacity and market evolution in Spain will be analyzed in detail. In addition, a comparison with other subsidized technologies which installed capacity has had a smoother evolution, as wind energy, will be presented.

Performance of UV-enhanced PMMA fresnel lenses and impact on LCOE

Tiny increases in the transmittance of optical materials within a CPV module can have an important impact on the economy of a plant. This is certainly true in systems comprising multi-junction solar cells, whose high performance, based on a balanced photocurrent generation among the series-connected junctions, is very sensitive to spectrum variations. Every efficiency point gained causes not only an increase in the kilowatts hour produced, but a higher benefit on it, since the difference between electricity tariff and Levelized Cost of Electricity (LCOE) rises. This work studies the impact on the LCOE of a plant based on modules comprising PMMA lenses of two different types, standard UV blocking grade which is normally used for outdoor applications at high DNI climate and a specialty stabilized UV-enhanced transmittance acrylic (see Figure 1). Energy production will be compared for these two systems throughout the year at different sites to analyze when (season, time of the day) and where the usage of the enhanced PMMA is justified.

Finite element simulation of sandwich panels of plasterboard and rock wool under mixed mode fracture

This paper presents the results of research on mixed mode fracture of sandwich panels of plasterboard and rock wool. The experimental data of the performed tests are supplied. The specimens were made from commercial panels. Asymmetrical three-point bending tests were performed on notched specimens. Three sizes of geometrically similar specimens were tested for studying the size effect. The paper also includes the numerical simulation of the experimental results by using an embedded cohesive crack model.The involved parameters for modelling are previously measured by standardised tests.

Plaster reinforcement with fibers by mineral wool obtained from the recycle of construction and demolition waste

The use of mineral wool is becoming more widespread due to increased acoustic and thermal demands of Spanish Technical Building Code. This increase affects both in rehabilitation and new construction projects. Therefore, waste generation of this type of insulating material is having more importance. The main objective of this research is to study the possibility of recycling fiber obtained from mineral wool of the C&DW as an alternative material to chopped glass fibers that are currently used as reinforcing elements in the prefabricated plaster. To achieve this objective, series are made of plaster E-35 additived with rock wool residue and glass wool residue at different rates of addition. These series are repeated by changing the additive by E fiberglass (length of 25mm) to make a comparative analysis with respect to the series additived with mineral wool waste. All the series are subjected to the test to determine Shore C surface hardness and mechanical testing to determine the compressive and flexural strength. From the results it can be concluded that: with rock wool residue, increases Shore C hardness up to 15% with respect to the glass fiber and 9% with respect to the glass wool, with a percentage of addition 2%. With rock wool residue, weight is decreased by 5% with respect to the glass fiber and 4% with respect to the glass wool waste, with an addition percentage of 4%. For an addition rate of 4%, results in the flexural strength test with fiberglass are 85% higher than those obtained with glass wool residue. However, for a percentage of 1% addition, the results obtained with glass wool residue are 35% higher than those obtained with fiberglass. For an addition rate of 3% results in the compressive strength test with fiberglass are 54% lower than those obtained with rock wool waste and 70% lower than those obtained with glass wool waste. Comparing the two mineral wools, it can be concluded that up to 3% of the addition, the glass wool series results obtained are 10% higher than those additived with rock wool. However, higher percentages of addition show that the results obtained with rock wool are 35% higher than those obtained with glass wool. The general conclusion is that the series additived with mineral wool from C&DW show better results in tests than the ones used nowadays as plaster reinforcement.

New Plaster Composite with Mineral Wool Fibres from CDW Recycling

Over the last decade the intense activity of the building sector has generated large quantities of construction and demolition waste (CDW). In particular, in Europe around 890 million tons of CDW is generated every year; however, only 50% of them are recycled. In Spain, over the last years 40 millions of tons of construction and demolition waste have been generated. On the other hand, since the implementation of the Technical Building Code regulation the use of mineral wools as building insulation materials has become a widespread solution in both rehabilitation and new construction works, and because of that, this kind of insulation waste is increasing. This research analyzes the potential of a new composite (gypsum and fiber waste) including several mineral wools waste into a plaster matrix. For this purpose, an experimental plan, characterizing the physical and mechanical behaviour as well as the Shore C hardness of the new composite, was elaborated fulfilling UNE Standards.

EU-Mercosur trade relations: impacts of exchange rate misalignments on tariffs. CEPS Working Document No. 372, February 2013

The issue of “trade and exchange rate misalignments” is being discussed at the G20, IMF and WTO, following an initiative by Brazil. The main purpose of this paper is to apply the methodology developed by the authors to exam the impacts of misalignment on tariffs in order to analyse the impacts of misalignments on the trade relations between two customs unions – the EU and Mercosur, as well as to explain how tariff barriers are affected. It is divided into several sections: the first summarises the debate on exchange rates at the WTO; the second explains the methodology used to determine exchange rate misalignments; the third and fourth summarises the methodology applied to calculate the impacts of exchange rate misalignments on the level of tariff protection through an exercise of ‘misalignment tariffication’; the fifth reviews the effects of exchange rate misalignments on tariffs and its consequences for the trade negotiations between the two areas; and the last concludes and suggests a way to move the debate forward in the context of regional arrangements.

Quantifying Non-Tariff Measures for TTIP. Paper No. 12 in the CEPS-CTR project ‘TTIP in the Balance’ and CEPS Special Report No. 116/July 2015

This paper provides an overview of methods employed to quantify non-tariff measures (NTMs) and then analyses their differences and looks at what these mean for the Transatlantic Trade and Investment Partnership (TTIP) negotiations. The authors find several similarities in the approaches taken. Because all studies conclude that NTMs matter, they argue that policy-makers are right to focus on ‘regulatory cooperation’ in TTIP. Given the significant differences in NTMs across sectors, policy-makers are urged to dive deep into sector-specific elements of NTMs and focus on those sectors where the largest potential gains can be made (i.e. where NTMs are highest, such as in agriculture, automobiles, steel, textiles and insurance services). An area identified for further research is the fact that unlike trade taxes (i.e. tariffs), regulatory barriers to trade are not generally targeted as the primary policy objective, but rather stem from other strategic policy concerns such as consumer safety and/or social and environmental protection. This element should be further investigated.

Examining the Impact of Carbon Tariffs on Trade

Anirudh Shingal presents at the joint NCCR Trade Regulation/NCCR Climate Workshop on “Border measures and the PPM issue in the context of climate change”. This presentation explores the possibility of a unilateral tariff increase on the imports of the most carbon-intensive products (identified from literature) from countries non-committed to climate-friendly polices in a bid to push them towards “global” climate policies. The presentation provides a first look at the empirical model to be used as well as the choice of trading partners, carbon-intensive products and the time period. Preliminary statistical analysis undertaken reveals the importance of these products in the trade flows of both importing and exporting countries as well as the existence of low tariffs (on these products) in destination markets.

The economy of Puerto Rico, with special reference to the economic implications of independence and other proposals to change its political status under the general provisions of section 332, part II, title III, Tariff act of 1930.

Reproduced from type-written copy.

Speeches on questions of public policy,

Includes index.

Observations on woollen machinery.

Mode of access: Internet.

Agriculture and tariff reform.

On cover: For speakers, writers, agents, etc.