M. El-Agraa, Ali; J. Jones, Anthony - In: Journal of Economic Integration 15 (2000), pp. 239-259
In 1965, Cooper and Massell (CM), using a partial-equilibrium trade model, reached the conclusion that a policy of unilateral tariff reduction (UTR) is superior to the formation of a customs union (CU). Wonnacott and Wonnacott (WW) challenged this conclusion in 1981 by claiming to show that UTR...