Welfare costs of U.S. quotas on textiles, steel, and autos
This paper deals with the problems of partial equlibrium analysis by presenting estimates from a static ten sector computable general equilibrium (CGE) model of the U.S. economy calibrated to the year 1984. Following the introduction, the paper is organized as follows. Section 2 outlines the model. Section 3 details the sources of estimates of premia on preexisting QRs (quota rents) in 1984 and the sources for the parameters describing demand and supply elasticities. Welfare and employment estimates of QR removal are presented by industry and in the aggregate in Section 4. Conclusions follow in Section 5.
|Date of creation:||30 Sep 1988|
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- Richard Harris, 1983.
"Applied General Equilibrium Analysis of Small Open Economies with Scale Economies and Imperfect Competition,"
524, Queen's University, Department of Economics.
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- John Whalley, 1984. "Trade Liberalization among Major World Trading Areas," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262231204, June.
- Anderson, James E, 1985. "The Relative Inefficiency of Quotas: The Cheese Case," American Economic Review, American Economic Association, vol. 75(1), pages 178-90, March.
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