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A differential game model of tariff war

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  • Kemp, Murray C.
  • Van Long, Ngo
  • Shimomura, Koji

Abstract

We present a simple two(-country) by two(-good) differental game model of international trade in which the governments of the two countries play a tariff-setting game. We explicitly derive a unilateral optimum tarifff rate and then a Markov-perfect equilibrium pair of tariff strategies (bilateral optimum tariff strategies) and compare the welfare level of each country among autarchic, free-trade, unilateral and bilateral optimum-tariff equilibria.

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Bibliographic Info

Article provided by Elsevier in its journal Japan and the World Economy.

Volume (Year): 13 (2001)
Issue (Month): 3 (August)
Pages: 279-298

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Handle: RePEc:eee:japwor:v:13:y:2001:i:3:p:279-298

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Web page: http://www.elsevier.com/locate/inca/505557

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  1. Léonard,Daniel & Long,Ngo van, 1992. "Optimal Control Theory and Static Optimization in Economics," Cambridge Books, Cambridge University Press, number 9780521331586, December.
  2. Dockner,Engelbert J. & Jorgensen,Steffen & Long,Ngo Van & Sorger,Gerhard, 2000. "Differential Games in Economics and Management Science," Cambridge Books, Cambridge University Press, number 9780521637329, December.
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Cited by:
  1. Steffen Jørgensen & Georges Zaccour, 2007. "Developments in differential game theory and numerical methods: economic and management applications," Computational Management Science, Springer, vol. 4(2), pages 159-181, April.
  2. G. Calzolari & L. Lambertini, 2001. "Export Restraints in a Model of Trade with Capital Accumulation," Working Papers 420, Dipartimento Scienze Economiche, Universita' di Bologna.
  3. Murray C. Kemp & Ngo Van Long, 2007. "Development Aid in the Presence of Corruption: Differential Games among Donors," CIRANO Working Papers 2007s-23, CIRANO.

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