This paper describes alternative approaches to the central question of common external tariffs of a Custom Union. Taking off from the work of Kemp and Wan who showed the existence of a common external tariff of CU that deeps the welfare of non-members unchanged while revising that of the CU as compared to the situation prior to the formation of CU, it characterizes such a tariff structure for two leading benchmark examples as consumption-weighted average of pre-union tariffs and subsidies in the member countries.
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Paper provided by Yale - Economic Growth Center in its series Papers with number
755.
Find related papers by JEL classification: F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations F31 - International Economics - - International Finance - - - Foreign Exchange
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