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well as welfare measured in equivalent variation calculated in a computable general equilibrium (CGE) trade model. The … of liberalised trade. The welfare effects of trade liberalisation confirmed the underutilisation of the TRQ indicated by … a welfare loss, considering the difference in gains of an underutilised quota (USD 2497) and a fully utilised quota (USD …
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strategically linked via the incentive compatibility constraint. Importantly, trade costs affect cartel shipments and welfare not …
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