Baumol-Tobin and the welfare costs of national security border delays
We analyze the economic costs of national security related border delays in a Baumol-Tobin inventory theoretic framework. We show that there are social costs induced by behavioural responses to the delays, in addition to time costs at the border.
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- William J. Baumol, 1952. "The Transactions Demand for Cash: An Inventory Theoretic Approach," The Quarterly Journal of Economics, Oxford University Press, vol. 66(4), pages 545-556.
- Edgar Cudmore & John Whalley, 2005.
"Border Delays and Trade Liberalization,"
in: International Trade in East Asia, NBER-East Asia Seminar on Economics, Volume 14, pages 391-406
National Bureau of Economic Research, Inc.
- Edgar Cudmore & John Whalley, 2002. "Border Delays and Trade Liberalization," University of Western Ontario, Economic Policy Research Institute Working Papers 20026, University of Western Ontario, Economic Policy Research Institute.
- Edgar Cudmore & John Whalley, 2003. "Border Delays and Trade Liberalization," NBER Working Papers 9485, National Bureau of Economic Research, Inc.
- W. J. Baumol & H. D. Vinod, 1970. "An Inventory Theoretic Model of Freight Transport Demand," Management Science, INFORMS, vol. 16(7), pages 413-421, March.
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