We argue in this paper that the second-best nature of trade-policy intervention makes it likely that the issue of time consistency viii be an important consideration in determining both the extent and the efficacy of such intervention in most environments. The point is seen most directly by...

We argue in this paper that the second-best nature of trade-policy intervention makes it likely that the issue of time consistency viii be an important consideration in determining both the extent and the efficacy of such intervention in most environments. The point is seen most directly by...

Since the beginning of the seventies Latin American exporters have been losing ground to their Asian competitors on the EEC as well as on the world market. While Latin American authorities tend to put the blame on external factors, and among them not least on the allegedly protectionist and...