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Simultaneous Reform of Tariffs and Quotas

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Author Info
J Peter Neary (University College of Dublin)

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Abstract

This paper presents a general result for simultaneous reform of tariffs and quotas in a small open economy, where some of the quota rents do not accrue to domestic residents. Absent highly perverse income effects, welfare must rise following a uniform proportionate reduction in tariffs and a uniform proportionate relaxation of quotas, weighted by their rent-retention parameters. Previous results are shown to be special cases of this one, and its implications for practical policy advice and its relationship with the policy of "tariffication" of quotas are noted.

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File URL: http://www.ucd.ie/economics/research/papers/2005/WP05.04.pdf
File Format: application/pdf
File Function: First version, 2005
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Publisher Info
Paper provided by School Of Economics, University College Dublin in its series Working Papers with number 200504.

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Length: 13 pages
Date of creation: 17 Feb 2005
Date of revision:
Handle: RePEc:ucn:wpaper:200504

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Postal: UCD, Belfield, Dublin 4
Phone: +353-1-7067777
Fax: +353-1-283 0068
Web page: http://www.ucd.ie/economics
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Related research
Keywords: International trade policy; piecemeal policy reform; tariffs and quotas; tariffication of quotas; trade liberalisation; voluntary export restraints.;

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Find related papers by JEL classification:
F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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  1. Anderson, James E & Neary, J Peter, 1992. "Trade Reform with Quotas, Partial Rent Retention, and Tariffs," Econometrica, Econometric Society, vol. 60(1), pages 57-76, January. [Downloadable!] (restricted)
  2. Fukushima, Takashi, 1979. "Tariff Structure, Nontraded Goods and Theory of Piecemeal Policy Recommendations," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 20(2), pages 427-35, June. [Downloadable!] (restricted)
  3. Lahiri, Sajal & Raimondos, Pascalis, 1996. "Correcting Trade Distortions in a Small Open Economy," Review of International Economics, Blackwell Publishing, vol. 4(3), pages 287-99, October.
  4. Falvey, Rodney E., 1988. "Tariffs, quotas and piecemeal policy reform," Journal of International Economics, Elsevier, vol. 25(1-2), pages 177-183, August. [Downloadable!] (restricted)
  5. Woodland, Alan D, 1980. "Direct and Indirect Trade Utility Functions," Review of Economic Studies, Blackwell Publishing, vol. 47(5), pages 907-26, October. [Downloadable!] (restricted)
  6. Neary, J Peter, 1995. "Trade Liberalisation and Shadow Prices in the Presence of Tariffs and Quotas," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 36(3), pages 531-54, August. [Downloadable!] (restricted)
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  7. Bruno, Michael, 1972. "Market Distortions and Gradual Reform," Review of Economic Studies, Blackwell Publishing, vol. 39(3), pages 373-83, July. [Downloadable!] (restricted)
  8. Corden, W. Max & Falvey, Rodney E., 1985. "Quotas and the second best," Economics Letters, Elsevier, vol. 18(1), pages 67-70. [Downloadable!] (restricted)
  9. Hatta, Tatsuo, 1977. "A Theory of Piecemeal Policy Recommendations," Review of Economic Studies, Blackwell Publishing, vol. 44(1), pages 1-21, February. [Downloadable!] (restricted)
  10. Foster, Edward & Sonnenschein, Hugo, 1970. "Price Distortion and Economic Welfare," Econometrica, Econometric Society, vol. 38(2), pages 281-97, March. [Downloadable!] (restricted)
  11. Neary, J. P. & Roberts, K. W. S., 1980. "The theory of household behaviour under rationing," European Economic Review, Elsevier, vol. 13(1), pages 25-42, January. [Downloadable!] (restricted)
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  12. Hatta, Tatsuo, 1977. "A Recommendation for a Better Tariff Structure," Econometrica, Econometric Society, vol. 45(8), pages 1859-69, November. [Downloadable!] (restricted)
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