Tariff Incidence in America's Gilded Age
AbstractIn the late nineteenth century, the United States imposed high tariffs to protect domestic manufacturers from foreign competition. This article examines the magnitude of protection given to import-competing producers and the costs imposed on export-oriented producers by focusing on changes in the domestic prices of traded goods relative to nontraded goods. The results suggest that the 30 percent average import tariff gave about a 17 percent implicit subsidy to import-competing producers and effectively taxed exporters at about 10 percent. Tariffs redistributed large amounts of income (about 8 percent of GDP), but the effect on consumers was roughly neutral.
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Bibliographic InfoArticle provided by Cambridge University Press in its journal The Journal of Economic History.
Volume (Year): 67 (2007)
Issue (Month): 03 (September)
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- F1 - International Economics - - Trade
- N7 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services
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