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Log-Rolling and Economic Interests in the Passage of the Smoot-Hawley Tariff

Kroszner, Randall S.; Irwin, Douglas A. - 2021

We analyze Senate roll-call votes concerning tariffs on specific goods in order to understand the economic and political factors influencing the passage of the Smoot-Hawley Tariff Act of 1930. Contrary to recent studies emphasizing the partisan nature of the Congressional votes, our reading of...

Persistent link: https://www.econbiz.de/10013218520

The Smoot-Hawley Tariff : A Quantitative Assessment

Irwin, Douglas A. - 2021

In the two years after the imposition of the Smoot-Hawley tariff in June 1930, the volume of U.S. imports fell over 40 percent. To what extent can this collapse of trade be attributed to the tariff itself versus other factors such as declining income or foreign retaliation? Partial and general...

Persistent link: https://www.econbiz.de/10013218720

The Political Economy of the Smoot-Hawley Tariff

Eichengreen, Barry - 2021

Economic histories of the interwar years view the Great Depression and the Smoot Hawley Tariff as inextricably bound up with one another. They assign a central role to the Depression in explaining the passage of the 1930 Tariff Act and at the same time emphasize the role of the tariff in the...

Persistent link: https://www.econbiz.de/10013222942

Contingent Protection as Better Insurance

Prusa, Thomas J.; Fischer, Ronald - 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

Interpreting the Tariff-Growth Correlation of the Late Nineteenth Century

Irwin, Douglas A. - 2021

Recent research has documented a positive relationship between tariffs and growth in the late nineteenth century. Such a correlation does not establish a causal relationship between tariffs and growth, but it is tempting to view the correlation as constituting evidence that protectionist or...

Persistent link: https://www.econbiz.de/10013227191

Could the U.S. Iron Industry Have Survived Free Trade after the Civil War?

Irwin, Douglas A. - 2021

An unresolved question concerning post-Civil War U.S. industrialization is the degree to which import tariffs protected domestic manufacturers from foreign competition. This paper considers the impact of import tariffs on the domestic pig iron industry, the basic building block of the entire...

Persistent link: https://www.econbiz.de/10013227496

Trade and Protection in Vertically Related Markets

Spencer, Barbara J.; Jones, Ronald Winthrop - 2021

A domestic firm is partially dependent on a foreign vertically integrated supplier for a key intermediate product when both firms are Cournot competitors in the market for the final product. The foreign supplier generally charges its domestic rival a price for the input that exceeds the...

Persistent link: https://www.econbiz.de/10013234946

Antebellum Tariff Politics : Coalition Formation and Shifting Regional Interests

Irwin, Douglas A. - 2021

Throughout U.S. history, import tariffs have been put on a sustained downward path in only two instances: from the early-1830s until the Civil War and from the mid-1930s to the present. This paper analyzes how the movement toward higher tariffs in the 1820s was reversed for the rest of the...

Persistent link: https://www.econbiz.de/10013237277

Protectionism Isn't Counter‐Cyclic (Anymore)

Rose, Andrew - 2012

Conventional wisdom holds that protectionism is counter-cyclic; tariffs, quotas and the like grow during recessions …-war era, protectionism has not actually moved counter-cyclically. Tariffs and non-tariff barriers simply do not rise … years, using eighteen measures of protectionism and seven of business cycles. I also provide some hints as to why …

Persistent link: https://www.econbiz.de/10013106645

Misallocation and Productivity Effects of the Smoot-Hawley Tariff

Bond, Eric W. - 2012

Using a newly created microeconomic archive of U.S. imports at the tariff-line level for 1930-33, we construct industry-level tariff wedges incorporating the input-output structure of U.S. economy and the heterogenous role of imports across sectors of the economy. We use these wedges to show...

Persistent link: https://www.econbiz.de/10013107018