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Protection for Sale with Imperfect Rent Capturing
Facchini, Giovanni - 2012
Structurally estimating the Grossman and Helpman (1994) model using coverage ratios that include non-tariff barriers leads to biased parameter estimates. We develop a quot;protection for salequot; theoretical framework consistent with the data, by explicitly allowing for non-tariff barriers....
Persistent link: https://www.econbiz.de/10012755693
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Contingent Protection as Better Insurance
Prusa, Thomas J.; Fischer, Ronald D. - 2021
We formalize the notion that GATT exceptions such as antidumping and escape clause actions can act as insurance for import competing sectors affected by adverse price shocks. We use a general equilibrium model with several import competing sectors and assume incomplete markets so that agents...
Persistent link: https://www.econbiz.de/10013223874
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Complementarity and Increasing Returns in Intermediate Inputs : A Theoretical and Applied General-Equilibrium Analysis
Lopez de Silanes, Florencio; Markusen, James R.; … - 2021
Conventional analysis in the trade-industrial-organization literature suggests that, when a country has some market power over an imported good, some small level of protection must be welfare improving. This is essentially a terms-of-trade argument that is reinforced if the imported goods are...
Persistent link: https://www.econbiz.de/10013225141
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Effective Protection Redux
Anderson, James E. - 2021
This paper rehabilitates the concept of effective rate of protection for use in political economy. The usual definition corresponds to no economically interesting magnitude in general equilibrium. The effective rate of protection for a sector is redefined here as the uniform tariff which is...
Persistent link: https://www.econbiz.de/10013221094
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A Quantile-Based Test of Protection for Sale Model
Imai, Susumu - 2010
This paper proposes a new test of the Protection for Sale (PFS) model by Grossman and Helpman (1994). Unlike existing methods in the literature, our approach does not require any data on political organizations. We formally show that the PFS model predicts that the quantile regression of the...
Persistent link: https://www.econbiz.de/10012759437
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Would Protectionism Defuse Global Imbalances and Spur Economic Activity? A Scenario Analysis
Faruqee, Hamid - 2010
In the evolving debate and analysis of global imbalances, a commonly overlooked issue pertains to rising protectionism …
Persistent link: https://www.econbiz.de/10012760524
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New Evidence on the Formation of Trade Policy Preferences
Blonigen, Bruce A. - 2009
This paper revisits the issue of people's preferences for international trade protection examining survey data from the American National Election Studies. I first show that both an individual's skills and the international trade characteristics of their employment industry affects their trade...
Persistent link: https://www.econbiz.de/10012765363
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Protecting Losers : Optimal Diversification, Insurance, and Trade Policy
Brainard, S. Lael - 2009
This paper derives a portfolio diversification rationale for a trade policy regime that insures returns to nondiversifiable human capital investment. In the absence of complete insurance markets for human capital, the decentralized equilibrium is characterized by excessive specialization. The...
Persistent link: https://www.econbiz.de/10012767710
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Protectionism and the Business Cycle
Barattieri, Alessandro - 2018
We study the consequences of protectionism for macroeconomic fluctuations. First, using high-frequency trade policy … VARs show that protectionism acts as a supply shock, causing output to fall and inflation to rise in the short run …. Moreover, protectionism has at best a small positive effect on the trade balance. Second, we build a small open economy model …
Persistent link: https://www.econbiz.de/10012926407
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Endogenous Trade Protection and Exchange Rate Adjustment
Auray, Stéphane - 2019
This paper explores the relationship between exchange rate adjustment and trade policy in a simple New Keynesian open economy macro model. We show that movement in exchange rates have a direct implication for trade policy when governments choose tariffs endogenously. In particular, we show that...
Persistent link: https://www.econbiz.de/10012893578