WELFARE COSTS OF U.S. QUOTAS IN TEXTILES, STEEL AND AUTOS

Jaime de Melo and David Tarr

Chapter 21 in Modeling Developing Countries' Policies in General Equilibrium, 2015, pp 451-459 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This paper quantifies the welfare effects and resource shifts that would occur if U.S. quantitative restrictions (QRs) in textiles, steel and autos were removed. Estimates are derived from a static ten-sector general equilibrium model of the U.S. economy. The welfare loss from the QRs is estimated at approximately U.S. $20 billion (1984 dollars). Due to the high rent transfer component of QRs (about 75%), the average across-the-board tariff equivalent of QRs (in terms of welfare costs) is estimated at about 20%, a rate which predates the early days of multilateral tariff reduction.

Keywords: Applied General Equilibrium Models; Trade Policy; Computable General Equilibrium; Archetypes (search for similar items in EconPapers)
Date: 2015
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Related works:
Chapter: WELFARE COSTS OF U.S. QUOTAS IN TEXTILES, STEEL AND AUTOS (2014)
Journal Article: Welfare Costs of U.S. Quotas in Textiles, Steel and Autos (1990)
Working Paper: Welfare Costs of US Quotas in Textiles, Steel and Autos (1990)
Working Paper: Welfare costs of U.S. quotas on textiles, steel, and autos (1988)
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