Quantitative restrictions, unempolyment and welfare

Chi-Chur Chao and Eden Yu

Open Economies Review, 1991, vol. 2, issue 2, 217 pages

Abstract: This paper explores the effects of import quotas and voluntary export restraints (VER) on employment and welfare of an economy plagued by generalized unemployment due to wage rigidity. The welfare effects of quotas and VER in the presence of unemployment are compared with those derived in the traditional full employment model. We show that a tightening of quotas or VER may improve welfare. Copyright Kluwer Academic Publishers 1991

Keywords: quotas; voluntary export restraint; welfare (search for similar items in EconPapers)
Date: 1991
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DOI: 10.1007/BF01886901

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