Macro, industry and state effects in the U.S. of removing major tariffs and quotas
We use a 500-industry CGE model of the U.S. to simulate the macro, industry and state effects of removing major U.S. tariffs and quotas. We find that this would generate a welfare gain of 0.07 per cent. For most industries, the output change would be negligible but for sugar, butter and several textile industries output contractions would be large. The state employment changes are all between -0.5 and 0.2 per cent. We explain the results by elementary mechanisms, in a way that does not require prior knowledge of the underlying CGE model.
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- Hertel, Thomas, 1997. "Global Trade Analysis: Modeling and applications," GTAP Books, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University, number 7685.
- Peter B. Dixon & Maureen T. Rimmer, 2004. "Disaggregation of results from a detailed general equilibrium model of the US to the State level," Centre of Policy Studies/IMPACT Centre Working Papers g-145, Victoria University, Centre of Policy Studies/IMPACT Centre.
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