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The Mercantilist Index of Trade Policy.

Abstract:

We introduce an index of trade policy restrictiveness defined as the uniform tariff that 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 instead of welfare as benchmark. Empirical applications to international cross section and time-series comparisons of trade policy confirm our theoretical results:...

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Publisher:
Blackwell Publishing
Journal:
International Economic Review More from this journal
Volume:
44
Issue:
2
Pages:
627 - 645
Publication date:
2003-01-01
DOI:
ISSN:
0020-6598
Language:
English
UUID:
uuid:8e06862b-101e-47e8-a2bd-20b5c50937e9
Local pid:
oai:economics.ouls.ox.ac.uk:10758
Deposit date:
2011-08-16

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