This paper studies the effects of changes in the internal market of the European Community in a partial equilibrium model of imperfect competition with economies of scale. The model is numerically calibrated to data on ten industries and the effects of two types of policy change are simulated....

Key questions in evaluating the justification for free trade agreements (FTAs) are whether formal international cooperation is necessary to promote greater contestability of markets through harmonization or recognition of regulatory regimes ("deep integration"), and whether any actions taken to...

Notwithstanding the tariffication component of the Uruguay Round Agreement on Agriculture, import tariffs on farm products continue to provide an incomplete indication of the extent to which agricultural producer and consumer incentives are distorted in national markets. As well, in developing...

This paper surveys the broad patterns of world trade in manufactures since about 1960. While the bulk of manufactured exports came initially from relatively few large industrial countries, developing countries have encroached seriously upon their markets in recent years. The newly industrialized...

Import protection is frequently advocated as a means of preserving jobs and avoiding labour adjustment costs. Defining adjustment costs in terms of output forgone during the process of adjustment and ignoring any general equilibrium repercussions, we estimate that quantitative restrictions on...

Based on evidence about industrial organization and market structure, this paper develops a CGE model with increasing returns to scale (IRTS) in selected industrial sectors in order to estimate the welfare gains Korea would achieve from abolishing the import restraints (tariffs and equivalent...

This paper addresses several questions of concern to economies excluded from the world's two major trading blocs <196> the European Union (EU) and the North American Free Trade Association (NAFTA). First, is there evidence from the past that suggests the direct and indirect effects of regional...</196>

The persistence of large trade and budget imbalances has led to increasing demands for protectionist policies. Despite a substantial theoretical literature there appears to be no empirical literature on the use of tariffs as a macroeconomic policy instrument. This paper fills that gap, using the...