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

Jaime de Melo and David Tarr

Chapter 2 in Applied Trade Policy Modeling in 16 Countries:Insights and Impacts from World Bank CGE Based Projects, 2014, pp 39-47 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: International Trade Policy; Developing Countries; Computable General Equilibrium; World Bank; Regional Trade Policy; Services Liberalization; Foreign Direct Investment; Trade and Poverty (search for similar items in EconPapers)
Date: 2014
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Related works:
Chapter: WELFARE COSTS OF U.S. QUOTAS IN TEXTILES, STEEL AND AUTOS (2015)
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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