Recent studies have compared labor losses in import-competing industries with the costs of protection and found that those losses are not large enough to justify trade restraints. This study develops a new technique for estimating the costs and benefits of protection and provides a complete accounting of labor losses related to imports, including labor rents, unemployment costs and labor force dropouts. We find that a small steel tariff or auction quota could have generated net welfare gains for the U.S. in the 1980s, even though actual protection through Voluntary Restraint Agreements generated net welfare losses.
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Publisher Info
Paper provided by EconWPA in its series International Trade with number
9604001.
Length: 32 pages Date of creation: 15 Apr 1996 Date of revision:
25 Apr 1996 Handle: RePEc:wpa:wuwpit:9604001
Note: Type of Document - WordPerfect; prepared on IBM PC; to print on HP; pages: 32 ; figures: included Contact details of provider: Web page: http://129.3.20.41
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