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Welfare Costs Of U.S. Quotas In Textiles, Steel And Autos

In: APPLIED TRADE POLICY MODELING IN 16 COUNTRIES Insights and Impacts from World Bank CGE Based Projects

Author

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  • Jaime de Melo
  • David Tarr

Abstract

This paper quantifies the welfare effects and resource shifts that would occur if U.S. quantitative restrictions (QRs) 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 QRs is estimated at approximately U.S. $20 billion (1984 dollars) Due to the high rent transfer component of QRs (about 75%), the average across-the-board tariff equivalent of QRs (in terms of welfare costs) is estimated at about 20%, a rate which predates the early days of multilateral tariff reduction.

Suggested Citation

  • Jaime de Melo & David Tarr, 2014. "Welfare Costs Of U.S. Quotas In Textiles, Steel And Autos," World Scientific Book Chapters, in: APPLIED TRADE POLICY MODELING IN 16 COUNTRIES Insights and Impacts from World Bank CGE Based Projects, chapter 2, pages 39-47, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814551434_0002
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    JEL classification:

    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • F00 - International Economics - - General - - - General
    • F01 - International Economics - - General - - - Global Outlook
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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