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An Overview of the Modelling of the Choices and Consequences of U.S. Trade Policy

Author

Listed:
  • Deardorff, A.V.
  • Stern, R.

Abstract

Our 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.

Suggested Citation

  • Deardorff, A.V. & Stern, R., 1997. "An Overview of the Modelling of the Choices and Consequences of U.S. Trade Policy," Working Papers 400, Research Seminar in International Economics, University of Michigan.
    • Handle: RePEc:mie:wpaper:400
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    Cited by:

    1. Browne, William P. & Schweikhardt, David B. & Bonnen, James T., 2000. "Chance Governs All: The Fragmented, Frustating State Of Agricultural Trade Policy In The United States," Staff Paper Series 11769, Michigan State University, Department of Agricultural, Food, and Resource Economics.

    More about this item

    Keywords

    ECONOMIC POLICY ; INTERNATIONAL TRADE;

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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