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Welfare Costs of US Quotas in Textiles, Steel and Autos

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  • de Melo, Jaime
  • Tarr, David

Abstract

This paper quantifies welfare costs and resource shifts that would occur if US quantitative restrictions in textiles, steel and autos were removed. Estimates are derived from a static ten-sector general the equilibrium model of the US economy. The welfare loss from the quantitative restrictions is estimated at approximately 1984 US$20 to their high rent transfer component (about 75%), these restrictions are equivalent (in welfare terms) to an average across the board tariff of 20% such rates were common in the early days of multilateral tariff reduction.

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Bibliographic Info

Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 401.

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Date of creation: Apr 1990
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Handle: RePEc:cpr:ceprdp:401

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Keywords: General Equilibrium; Quantitative Restraints; Voluntary Export Restraints; Welfare Costs;

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References

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  1. Feenstra, Robert C, 1988. "Quality Change under Trade Restraints in Japanese Autos," The Quarterly Journal of Economics, MIT Press, vol. 103(1), pages 131-46, February.
  2. Richard Harris, 1983. "Applied General Equilibrium Analysis of Small Open Economies with Scale Economies and Imperfect Competition," Working Papers 524, Queen's University, Department of Economics.
  3. John Whalley, 1984. "Trade Liberalization among Major World Trading Areas," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262231204, December.
  4. Baldwin, Robert E. & Mutti, John H. & Richardson, J. David, 1980. "Welfare effects on the United States of a significant multilateral tariff reduction," Journal of International Economics, Elsevier, vol. 10(3), pages 405-423, August.
  5. Jones, Ronald W & Berglas, Eitan, 1977. "Import Demand and Export Supply: An Aggregation Theorem," American Economic Review, American Economic Association, vol. 67(2), pages 183-87, March.
  6. Anderson, James E, 1985. "The Relative Inefficiency of Quotas: The Cheese Case," American Economic Review, American Economic Association, vol. 75(1), pages 178-90, March.
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Citations

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Cited by:
  1. Morkre, Morris & Tarr, David G., 1993. "Reforming Hungarian agricultural trade policy : a quantitative evaluation," Policy Research Working Paper Series 1185, The World Bank.
  2. World Bank, 2001. "Trade and Foreign Exchange Policies in Iran : Reform Agenda, Economic Implications and Impact on the Poor," World Bank Other Operational Studies 15478, The World Bank.
  3. Rutherford, Thomas F. & Tarr, David G., 2002. "Trade liberalization, product variety and growth in a small open economy: a quantitative assessment," Journal of International Economics, Elsevier, vol. 56(2), pages 247-272, March.
  4. Peter Walkenhorst, 2004. "Liberalising Trade in Textiles and Clothing: A Survey of Quantitative Studies," International Trade 0401007, EconWPA.
  5. Sam Laird & David Vanzetti & Santiago Fernández de Córdoba, 2005. "Smoke And Mirrors: Making Sense Of The Wto Industrial Tariff Negotiations," UNCTAD Blue Series Papers 30, United Nations Conference on Trade and Development.
  6. de Melo, Jaime & Stanton, Julie & Tarr, David, 1989. "Revenue raising taxes : general equilibrium evaluation of alternative taxation in U.S. petroleum industries," Policy Research Working Paper Series 145, The World Bank.
  7. Peter B. Dixon, 2006. "Evidence-based Trade Policy Decision Making in Australia and the Development of Computable General Equilibrium Modelling," Centre of Policy Studies/IMPACT Centre Working Papers g-163, Victoria University, Centre of Policy Studies/IMPACT Centre.
  8. Kala Krishna & Kathleen Hogan & Phillip Swagel, 1989. "The Non-Optimality of Optimal Trade Policy: The U.S. Automobile Indust ry Revisited, 1979-1985," NBER Working Papers 3118, National Bureau of Economic Research, Inc.
  9. Gallaway, Michael P. & Blonigen, Bruce A. & Flynn, Joseph E., 1999. "Welfare costs of the U.S. antidumping and countervailing duty laws," Journal of International Economics, Elsevier, vol. 49(2), pages 211-244, December.
  10. Robert W. McGee, 1998. "Some Ethical Issues for Accountants in Antidumping Trade Cases: An Examination of Recent Case Studies With Emphasis on Latin America," International Trade 9805008, EconWPA.
  11. Jensen, Jesper & Tarr, David, 2002. "Trade, foreign exchange, and energy policies in the Islamic Republic of Iran : reform agenda, economic implications, and impact on the poor," Policy Research Working Paper Series 2768, The World Bank.
  12. Rutherford, Thomas F. & Tarr, David G., 1998. "Trade liberalization and endogenous growth in a small open economy : a quantitative assessment," Policy Research Working Paper Series 1970, The World Bank.
  13. Matusz, Steven J. & Tarr, David, 1999. "Adjusting to trade policy reform," Policy Research Working Paper Series 2142, The World Bank.
  14. de Melo, Jaime & Tarr, David, 1990. "Do wage distortions justify protection in the U.S. auto and steel industries?," Policy Research Working Paper Series 517, The World Bank.

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