Welfare and Customs Unions
This paper proposes that Viner's celebrated trade diversion and trade creation terminology for the customs union problem be abandoned. As the alternative is offered a welfare calculus based upon the terms-of-trade and volume-of-trade taxonomy from the theory of tariffs. The paper discusses, by application of this calculus, the two outstanding controversies in the theory of customs unions.
|Date of creation:||Oct 1990|
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- Michaely, Michael, 1976. "The assumptions of Jacob Viner's theory of customs unions," Journal of International Economics, Elsevier, vol. 6(1), pages 75-93, February.
- John Kennan & Raymond Riezman, 1990.
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- Raymond RIEZMAN, 2013.
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World Scientific Publishing Co. Pte. Ltd..
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- Appleyard, Dennis R. & Conway, Patrick J. & Field, Alfred Jr., 1989. "The effects of customs unions on the pattern and terms of trade in a Ricardian model with a continuum of goods," Journal of International Economics, Elsevier, vol. 27(1-2), pages 147-164, August.
- Conway, Patrick J & Appleyard, Dennis R & Field, Alfred J, Jr, 1989. "Trade Agreements vs. Unilateral Tariff Reductions: Evidence from Modeling with a Continuum of Goods," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 30(4), pages 775-94, November.
- Kirman, Alan P, 1973. "Trade Diverting Customs Unions and Welfare Improvement: A Comment," Economic Journal, Royal Economic Society, vol. 83(331), pages 890-94, September.
- Harry G. Johnson, 1965. "An Economic Theory of Protectionism, Tariff Bargaining, and the Formation of Customs Unions," Journal of Political Economy, University of Chicago Press, vol. 73, pages 256.
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