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Welfare Costs of U.S. Quotas in Textiles, Steel and Autos

  • de Melo, Jaime
  • Tarr, David

This paper quantifies the welfare effects and resource shifts that would occur if U.S. quantitative restrictions in textiles, steel, and autos were removed. Estimates are derived from a static ten-sector general equilibrium model of the U.S. economy. The welfare loss from the quantitative restrictions is estimated at approximately U.S. $20 billion (1984 dollars). Due to the high rent transfer component of quantitative restrictions (about 75 percent), the average across-the-board tariff equivalent of quantitative restrictions (in terms of welfare costs) is estimated at about 20 percent, a rate which predates the early days of multilateral tariff reduction. Copyright 1990 by MIT Press.

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Article provided by MIT Press in its journal Review of Economics & Statistics.

Volume (Year): 72 (1990)
Issue (Month): 3 (August)
Pages: 489-97

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Handle: RePEc:tpr:restat:v:72:y:1990:i:3:p:489-97
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  1. Feenstra, Robert C, 1988. "Quality Change under Trade Restraints in Japanese Autos," The Quarterly Journal of Economics, MIT Press, vol. 103(1), pages 131-46, February.
  2. Anderson, James E, 1985. "The Relative Inefficiency of Quotas: The Cheese Case," American Economic Review, American Economic Association, vol. 75(1), pages 178-90, March.
  3. Richard Harris, 1983. "Applied General Equilibrium Analysis of Small Open Economies with Scale Economies and Imperfect Competition," Working Papers 524, Queen's University, Department of Economics.
  4. Baldwin, Robert E. & Mutti, John H. & Richardson, J. David, 1980. "Welfare effects on the United States of a significant multilateral tariff reduction," Journal of International Economics, Elsevier, vol. 10(3), pages 405-423, August.
  5. Jones, Ronald W & Berglas, Eitan, 1977. "Import Demand and Export Supply: An Aggregation Theorem," American Economic Review, American Economic Association, vol. 67(2), pages 183-87, March.
  6. John Whalley, 1984. "Trade Liberalization among Major World Trading Areas," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262231204, June.
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