Optimal Trade Policies for a Small Open Economy
AbstractThis paper investigates optimal trade policies for a small open economy with unemployment. When factor prices are rigid, random foreign prices result in random unemployment of resources. The ranking of second-best policies is investigated. If the marginal propensity to consume the importable is positive and nonincreasing in income, the optimal composite tariff dominates the optimal target price, which in turn dominates the optimal quota. Copyright 1993 by The London School of Economics and Political Science.
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Bibliographic InfoArticle provided by London School of Economics and Political Science in its journal Economica.
Volume (Year): 60 (1993)
Issue (Month): 240 (November)
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- E. Kwan Choi & Hamid Beladi, 1998.
"Welfare Reducing Trade and Optimal Trade Policy,"
Center for Agricultural and Rural Development (CARD) Publications
98-wp196, Center for Agricultural and Rural Development (CARD) at Iowa State University.
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- Yoshiyasu Ono, 2006. "Protective Trade Policies 'Reduce' Employment: A Dynamic Optimization Approach," ISER Discussion Paper 0659, Institute of Social and Economic Research, Osaka University.
- Chao, Chi-Chur & Yu, Eden S.H., 2007. "Trade liberalization, foreign ownership, and the environment in a small open economy," International Review of Economics & Finance, Elsevier, vol. 16(4), pages 471-477.
- Choi, E. Kwan, 2002.
"Trade and the adoption of a universal language,"
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- Ingene, Charles A. & Yu, Eden S. H. & Chao, Chi-Chur, 2004. "The impact of export share requirements under production uncertainty," International Review of Economics & Finance, Elsevier, vol. 13(2), pages 201-215.
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