An Overview of the Modelling of the Choices and Consequences of U.S. Trade Policy
AbstractOur paper is designed to provide the context for the theme of the conference, "The Representation of Constituent Interests in the Design and Implementation of U.S. Trade Policies." We begin by reviewing the normative and political economy approaches to the modeling of trade policies. We identify the major limitations of these approaches and then discuss what Dixit (1996) has referred to as the "transaction-cost approach," which may provide a middle ground between the other approaches and enable us to address some hitherto imperfectly understood issues of trade policy.
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Bibliographic InfoPaper provided by Research Seminar in International Economics, University of Michigan in its series Working Papers with number 400.
Length: 33 pages
Date of creation: 1997
Date of revision:
ECONOMIC POLICY ; INTERNATIONAL TRADE;
Find related papers by JEL classification:
- F10 - International Economics - - Trade - - - General
- F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
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