The mercantilist index of trade policy
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Title: | The mercantilist index of trade policy | Authors: | Anderson, James E.; Neary, J. Peter | Permanent link: | http://hdl.handle.net/10197/1323 | Date: | 11-Jul-2001 | Online since: | 2009-07-29T11:51:33Z | Abstract: | We introduce an index of trade policy restrictiveness defined as the uniform tariff which maintains the same trade volume as a given tariff/quota structure. Our index overcomes the problems of the trade-weighted average tariff: it avoids substitution bias, correctly accounts for general equilibrium transfers, and takes import volume rather than welfare as benchmark. Empirical applications to international cross-section and time-series comparisons of trade policy confirm our theoretical results: trade-weighted average tariffs generally underestimate the true height of tariffs as measured by the trade-volume-equivalent index; this in turn always underestimates the welfare-equivalent index. | Funding Details: | OECD ; Economic and Social Research Council (ESRC) | Type of material: | Working Paper | Publisher: | University College Dublin. School of Economics | Series/Report no.: | UCD Centre for Economic Research Working Paper Series; WP98/13 | Keywords: | Tariffs; Quotas; Trade Restrictiveness Index; Trade liberalisation; International trade policy | JEL Codes: | F13 | Subject LCSH: | International trade Tariff Restraint of trade Commercial policy |
Other versions: | http://www.ucd.ie/economics/research/papers/1998/WP98.13.pdf | Language: | en | Status of Item: | Not peer reviewed | This item is made available under a Creative Commons License: | https://creativecommons.org/licenses/by-nc-sa/1.0/ |
Appears in Collections: | Economics Working Papers & Policy Papers |
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