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An Alternative Welfare Decomposition for Customs Unions

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  • Glenn W. Harrison
  • Thomas F. Rutherford
  • Ian Wooton

Abstract

The authors present a means of evaluating the effects of customs-union formation by a decomposition of the overall welfare effect into two components: the consequences of induced changes in domestic prices; and the effects on income of adjustments in tariff rates and endogenous changes in the pattern and volume of trade. A virtue of the proposed decomposition is that it is path independent, providing unambiguous results for analyses of both marginal and discrete changes in tariff rates. This property means that the decomposition may be numerically implemented to provide better insight into the welfare effects of economic integration.

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Bibliographic Info

Article provided by Canadian Economics Association in its journal Canadian Journal of Economics.

Volume (Year): 26 (1993)
Issue (Month): 4 (November)
Pages: 961-68

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Handle: RePEc:cje:issued:v:26:y:1993:i:4:p:961-68

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Cited by:
  1. Denise Eby Konan & Keith E Maskus, 2000. "Bilateral Trade Patterns and Welfare: An Egypt-EU Preferential Trade Agreement," Working Papers, University of Hawaii at Manoa, Department of Economics 200001, University of Hawaii at Manoa, Department of Economics.
  2. Harrison, Glenn W. & Rutherford, Thomas F. & Tarr, David G., 1997. "Trade policy options for Chile : a quantitative evaluation," Policy Research Working Paper Series 1783, The World Bank.
  3. Glenn W Harrison & Thomas F Rutherford & David G Tarr, 1997. "Opciones de Política Comercial para Chile: Una Evaluación Cuantitativa," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 34(102), pages 101-137.
  4. Anna Maria Mayda & Chad Steinberg, 2008. "Do South-South Trade Agreements Increase Trade? Commodity-Level Evidence from COMESA," Development Working Papers 247, Centro Studi Luca d\'Agliano, University of Milano.
  5. Burfisher, Mary E. & Robinson, Sherman & Thierfelder, Karen, 2004. "Regionalism," MTID discussion papers 65, International Food Policy Research Institute (IFPRI).
  6. Furusawa, Taiji & Konishi, Hideo, 2004. "A welfare decomposition in quasi-linear economies," Economics Letters, Elsevier, Elsevier, vol. 85(1), pages 29-34, October.
  7. Harrison, Glenn W. & Rutherford, Thomas F. & Tarr, David G., 2001. "Chile's regional arrangements and the Free Trade Agreement of the Americas : the importance of market access," Policy Research Working Paper Series 2634, The World Bank.

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