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An Overview of the Modelling of the Choices and Consequences of U.S. Trade Policy

Author

Listed:
  • Deardorff, A.V.
  • Stern, R.

Abstract

Our paper is designed to provide the context for the theme of the conference, "The Representation of Constituent Interests in the Design and Implementation of U.S. Trade Policies." We begin by reviewing the normative and political economy approaches to the modeling of trade policies. We identify the major limitations of these approaches and then discuss what Dixit (1996) has referred to as the "transaction-cost approach," which may provide a middle ground between the other approaches and enable us to address some hitherto imperfectly understood issues of trade policy.

Suggested Citation

  • Deardorff, A.V. & Stern, R., 1997. "An Overview of the Modelling of the Choices and Consequences of U.S. Trade Policy," Working Papers 400, Research Seminar in International Economics, University of Michigan.
  • Handle: RePEc:mie:wpaper:400
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    References listed on IDEAS

    as
    1. Maskus, Keith E. & Rutherford, Thomas J. & Selby, Steven, 1995. "Implications of changes in labor standards: A computational analysis for Mexico," The North American Journal of Economics and Finance, Elsevier, vol. 6(2), pages 171-188.
    2. Kym Anderson, 1997. "Social Policy Dimensions of Economic Integration: Environmental and Labor Standards," NBER Chapters,in: Regionalism versus Multilateral Trade Arrangements, NBER-EASE Volume 6, pages 57-90 National Bureau of Economic Research, Inc.
    3. Stephen S. Golub, 1997. "International Labor Standards and International Trade," IMF Working Papers 97/37, International Monetary Fund.
    4. André Sapir, 1995. "The Interaction Between Labour Standards and International Trade Policy," The World Economy, Wiley Blackwell, vol. 18(6), pages 791-803, November.
    5. Brown, D.K. & Dearorff, A.V. & Stern, R.M., 1993. "International Labor Standards and Trade: A Theoretical Analysis," Working Papers 333, Research Seminar in International Economics, University of Michigan.
    6. Squire, Lyn & Suthiwart-Narueput, Sethaput, 1997. "The Impact of Labor Market Regulations," World Bank Economic Review, World Bank Group, vol. 11(1), pages 119-143, January.
    7. Jagdish Bhagwati, 1995. "Trade Liberalisation and ‘Fair Trade’ Demands: Addressing the Environmental and Labour Standards Issues," The World Economy, Wiley Blackwell, vol. 18(6), pages 745-759, November.
    8. André Sapir, 1996. "The harmonization of social policies: lessons from European integration," ULB Institutional Repository 2013/8164, ULB -- Universite Libre de Bruxelles.
    9. Maskus, Keith E., 1997. "Should core labor standards be imposed through international trade policy?," Policy Research Working Paper Series 1817, The World Bank.
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    Cited by:

    1. Browne, William P. & Schweikhardt, David B. & Bonnen, James T., 2000. "Chance Governs All: The Fragmented, Frustating State Of Agricultural Trade Policy In The United States," Staff Papers 11769, Michigan State University, Department of Agricultural, Food, and Resource Economics.

    More about this item

    Keywords

    ECONOMIC POLICY ; INTERNATIONAL TRADE;

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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