Revenue Tariff Reform
What kind of tariff reform is likely to raise welfare in situations where tariff revenue is important?� Uncertainty about specification and risk from imprecise parameter estimates of any particular specification reduce the credibility of simulation estimates.� A promising alternative is to develop rules which are robust with respect to such uncertainty.� We present sufficient conditions for a class of linear rule that guarantee welfare-improving tariff reform.� The rules span cones of welfare-improving tariff reforms consisting of convex combinations of (i) trade-weighted-average-tariff-preserving dispersion cuts; and (ii) uniform tariff cuts that preserve domestic relative prices among tariff-ridden goods.
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