The Theory of Variable Levies

David Bigman

Oxford Economic Papers, 1987, vol. 39, issue 2, 357-77

Abstract: This paper develops an analytical framework for evaluating the policy of variable levies and assessing its effects on the country's trade, welfare, income distribution, b alance of payments, and fiscal budget. The analysis indicates that th e instability in domestic supply and world prices may justify certain measures of government interventions and trade restrictions; and app ropriately designed variable levies will not only insulate the econom y from the external instability, but may also raise the country's wel fare. Instability thus adds another dimension to the familiar "optim al tariff" argument. Copyright 1987 by Royal Economic Society.

Date: 1987
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