Journal ArticleDOI
Welfare effects on the United States of a significant multilateral tariff reduction
TLDR
In this paper, an estimate of the impact of a 50 percent multilateral tariff reduction on U.S. trade, employment, capital utilization, and economic welfare is presented, in addition to calculating conventional measures of consumer surplus and revenue effects, quantifying the economic adjustment costs faced by labor and capital owners who are displaced by trade liberalization.About:
This article is published in Journal of International Economics.The article was published on 1980-08-01. It has received 124 citations till now. The article focuses on the topics: Free trade & Gains from trade.read more
Citations
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Journal ArticleDOI
Income Inequality and Trade: How to Think, What to Conclude
TL;DR: The authors found that trade accounts for a share of these inequality trends close to or somewhat greater than its 10-15 percent share of economic activity, especially over medium-term horizons and dependent on precise definition.
Book ChapterDOI
Chapter 6 Tax policy in open economies
TL;DR: In this paper, the theory of optimum taxation in an economy open to international trade is discussed, and the economic objectives of the policy remain the same, and can be broadly classified as correcting externalities and distortions, raising revenue for government expenditure, and redistributing income.
Journal ArticleDOI
Great Expectations and the End of the Depression
TL;DR: Temin and Wigmore as mentioned in this paper argue that the recovery was triggered by a shift in expectations triggered by Franklin Delano Roosevelt's (FDR) policy actions, and they use a repeated game setting using a dynamic stochastic general equilibrium (DSGE) model.
Journal ArticleDOI
Estimates of the elasticities of substitution between imports and home goods for the United States: Reply
TL;DR: SchAtzungen der SubstitutionselastizitAt zwischen Importen and heimischen Gutern fur the Vereinigten Staaten as discussed by the authors have been investigated in the USA.
Journal ArticleDOI
How robust is applied general equilibrium analysis
TL;DR: In this paper, the authors argue that applied general equilibrium models should be routinely subject to systematic sensitivity analysis, which will lead to policy simulations that capture, to some extent, the uncertainties involved in calibrating such models.
References
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Book ChapterDOI
The General Theory of Second Best
TL;DR: The General Theory of Second Best (G2B) as mentioned in this paper is the core of the theory of second best, and it has been used in a number of recent works in the field of economics.
Journal ArticleDOI
Tariffs and the Distribution of Income: The Importance of Factor Specificity, Substitutability, and Intensity in the Short and Long Run
TL;DR: In this article, the effects of changes in relative commodity prices on the distribution of income among factors of production in the context of two models of a simple, two-good economy are analyzed.
Journal ArticleDOI
Minimum Wage Rates and the Pure Theory of International Trade
TL;DR: In this paper, the minimum-wage economy and the international equilibrium were discussed and the minimum wage economy was discussed in the context of a minimum-salary economy and international equilibrium.
Journal ArticleDOI
Domestic Distortions, Tariffs and the Theory of Optimum Subsidy
TL;DR: In this article, the use of tariffs when domestic distortions exist is discussed. But the main question is not whether a tariff policy necessarily superior to any other form of trade policy, but rather whether the choice can be made from the entire range of policy instruments, which is the optimal economic policy.