El-Agraa, Ali - In: Applied Economics Letters 9 (2002) 9, pp. 621-624
In 1965, Cooper and Massell (Economic Journal 75: 742-7) showed that a policy of unilateral tariff reduction (UTR) was superior to the formation of a customs union (CU). Although their model was concerned with only static resource reallocation effects, many analysts treated the Cooper/Massell...