-order) maximize welfare gains given an arbitrary constraint …

experiment for testing the theory of trade policy. We focus on simple and robust theory predictions about the effects of binding … theory. The annual cost of the MFA to U.S. consumers was about $90 per household …

efficient. Social welfare rises with" aggregate efficiency unless distribution effects are perverse. Plausible sufficient …

-participation countries will lose. If non-tariff barriers are reduced more, the impacts will be larger. All effects to China on welfare, trade …, export and import are positive. Comparatively China-TPP and RCEP will yield the highest welfare outcomes for the US in our … model, China-Japan-Korea FTA will generate the second highest welfare outcome, and China-US FTA will generate the third …

and levels of macroeconomic aggregates in both the U.S. and Europe. We find that European welfare is enhanced, and, more …

Using a general equilibrium model of the United States economy,we examine the combined welfare cost of all taxes in the … U.S. revenue system.We find that the welfare losses caused by distortionary taxation can be very large, both on average … and at the margin.The marginal welfare loss to consumers from raising an additional dollar of revenue is in the range of …

across markets and firms is shown to be critical for the welfare implications of trade and for the response of prices to …

level of asset prices which does not take into account changes in potential tends to be welfare reducing …

unemployment, reduce output, and raise productivity. The welfare effects are ambiguous …

welfare. First, the environmental policy reduces monopoly profits, and the negative effect on income increases labor supply in … larger, for reasonable parameter values, so the existence of monopoly reduces the welfare gain (or increases the loss) from …