IDEAS home Printed from https://ideas.repec.org/p/ags/queddp/275221.html
   My bibliography  Save this paper

Trade and Industrial Policy for a 'Declining?' Industry: the case of the U.S. Steel Industry

Author

Listed:
  • Harris, Richard G.

Abstract

An intertemporal partial equilibrium model of the U.S. steel industry is developed which stresses imperfect competition, and the interaction between the large declining integrated steel producers and the entry of the new efficient mini-mills. A central question is whether trade and industrial policy should favour one sector at the expense of another. The existing policy of 'IRA's on steel is estimated to have a welfare cost of equal to 6.5 percent of the present value of base consumption. Furthermore, it is shown that the joint presence of imperfect competition and rent-shifting 'IRA's implies that a partial tightening of the steeel quotas would lead ,to an improvement in national welfare which si quantitatively significant, even though free trade in steel is the globally optimal policy.

Suggested Citation

  • Harris, Richard G., 1986. "Trade and Industrial Policy for a 'Declining?' Industry: the case of the U.S. Steel Industry," Queen's Institute for Economic Research Discussion Papers 275221, Queen's University - Department of Economics.
    • Handle: RePEc:ags:queddp:275221
    DOI: 10.22004/ag.econ.275221
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/275221/files/QUEENS-IER-PAPER-766.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.275221?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Harris, Richard G., 1989. "The New Protectionism Revisited," Queen's Institute for Economic Research Discussion Papers 275219, Queen's University - Department of Economics.
    2. Richard G. Harris, 1989. "The New Protectionism Revisited," Canadian Journal of Economics, Canadian Economics Association, vol. 22(4), pages 751-778, November.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Murray G Smith, 2011. "The North American Free Trade Agreement: Fait Accompli?," Chapters, in: Miroslav N. Jovanović (ed.), International Handbook on the Economics of Integration, Volume I, chapter 15, Edward Elgar Publishing.
    2. Baldwin, Robert E, 1992. "Are Economists' Traditional Trade Policy Views Still Valid?," Journal of Economic Literature, American Economic Association, vol. 30(2), pages 804-829, June.
    3. Mario Marazzi, 2002. "On the fragility of gains from trade under continuously differentiated bertrand competition," International Finance Discussion Papers 735, Board of Governors of the Federal Reserve System (U.S.).
    4. Freedman, Charles, 1990. "La politique monétaire des années 90 : leçons et enjeux," L'Actualité Economique, Société Canadienne de Science Economique, vol. 66(2), pages 147-186, juin.
    5. Richard G. Lipsey & Murray G. Smith, 2011. "Multilateral versus Regional Trading Arrangements: Substitutes or Complements?," Chapters, in: Miroslav N. Jovanović (ed.), International Handbook on the Economics of Integration, Volume I, chapter 3, Edward Elgar Publishing.
    6. Brander, James A., 1995. "Strategic trade policy," Handbook of International Economics, in: G. M. Grossman & K. Rogoff (ed.), Handbook of International Economics, edition 1, volume 3, chapter 27, pages 1395-1455, Elsevier.
    7. Keith Head & Barbara J. Spencer, 2017. "Oligopoly in international trade: Rise, fall and resurgence," Canadian Journal of Economics, Canadian Economics Association, vol. 50(5), pages 1414-1444, December.
    8. Melvyn Fuss & Steven Murphy & Leonard Waverman, 1992. "The State of the North American and Japanese Motor Vehicle Industries: A Partially Calibrated Model to Examine the Impacts of Trade Policy Changes," NBER Working Papers 4225, National Bureau of Economic Research, Inc.
    9. Glass, Amy Jocelyn & Saggi, Kamal, 1999. "FDI policies under shared factor markets," Journal of International Economics, Elsevier, vol. 49(2), pages 309-332, December.
    10. Jaime de Melo & David Roland-Holst, 2015. "Industrial Organization and Trade Liberalization: Evidence from Korea," World Scientific Book Chapters, in: Modeling Developing Countries' Policies in General Equilibrium, chapter 18, pages 385-404, World Scientific Publishing Co. Pte. Ltd..

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:queddp:275221. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/qedquca.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.