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Australian and American tariffs policies: do they rock or tango?

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  • Cassette, Aurélie
  • Farvaque, Etienne

Abstract

This paper disentangles between two hypotheses on the determinants of Australia's and the US' average tariffs levels. Relying on historical data that covers a century (1904 to 2005), it is first shown that a break in the series occurs in 1947, forcing to separate the data into two sub-periods (before and after the 1947 break). The results permit to distinguish a "rock" and a "tango" regime. The first designates the period where one country (the US) has a stronger influence on the other, while the second indicates that, after 1947, stronger reciprocal inter-relations have to be taken into account.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 13627.

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Date of creation: 19 Feb 2009
Date of revision: 25 Feb 2009
Handle: RePEc:pra:mprapa:13627

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Keywords: Australia; United States; Trade Policy; Tariffs;

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  1. Grossman, G.M. & Helpman, E., 1992. "Protection for Sale," Papers 21-92, Tel Aviv.
  2. Prema-Chandra Athukorala & Satish Chand, 2007. "Tariff-Growth Nexus in the Australian Economy, 1870-2002: Is there a Paradox?," Departmental Working Papers 2007-08, The Australian National University, Arndt-Corden Department of Economics.
  3. Kim, Soyoung & Roubini, Nouriel, 2000. "Exchange rate anomalies in the industrial countries: A solution with a structural VAR approach," Journal of Monetary Economics, Elsevier, vol. 45(3), pages 561-586, June.
  4. Kwiatkowski, Denis & Phillips, Peter C. B. & Schmidt, Peter & Shin, Yongcheol, 1992. "Testing the null hypothesis of stationarity against the alternative of a unit root : How sure are we that economic time series have a unit root?," Journal of Econometrics, Elsevier, vol. 54(1-3), pages 159-178.
  5. Gregory, A.W. & Hansen, B.E., 1992. "Residual-Based Tests for Cointegration in Models with Regime Shifts," RCER Working Papers 335, University of Rochester - Center for Economic Research (RCER).
  6. Gardner, Grant W & Kimbrough, Kent P, 1989. "The Behavior of U.S. Tariff Rates," American Economic Review, American Economic Association, vol. 79(1), pages 211-18, March.
  7. Sims, Christopher A, 1980. "Macroeconomics and Reality," Econometrica, Econometric Society, vol. 48(1), pages 1-48, January.
  8. Michael Hoffman, 2009. "What explains attitudes across US trade policies?," Public Choice, Springer, vol. 138(3), pages 447-460, March.
  9. James E. Anderson & J. Peter Neary, 2005. "Measuring the Restrictiveness of International Trade Policy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262012200, November.
  10. Peter Lloyd, 2008. "100 Years Of Tariff Protection In Australia," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 48(2), pages 99-145, 07.
  11. Elbourne, Adam & de Haan, Jakob, 2006. "Financial structure and monetary policy transmission in transition countries," Journal of Comparative Economics, Elsevier, vol. 34(1), pages 1-23, March.
  12. Douglas A. Irwin, 2002. "Interpreting the Tariff–Growth Correlation of the Late 19th Century," American Economic Review, American Economic Association, vol. 92(2), pages 165-169, May.
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