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Trade policy - -The different between what consumer willing...

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Trade policy
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Types of policies Tariffs Tax of goods across the national border Quotas Non-tariff barriers
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Reasons for tariffs Protect industries Industrial policy -- infant industry, strategic industries, “winners” Revenue Redistribute Income Influence foreigners
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Redistribute Income HO model Protection helps import competing industry IC industry uses scarce labor intensively Tariff helps scarce factor, harms abundant factor and consumers Coordination problems
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Effect of a tariff Concept of consumers’ surplus - Is a supply and demand
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Unformatted text preview: -The different between what consumer willing to pay and Effect of a tariff • Producers’ surplus Effect of a tariff – small country • No tariff Effect of a tariff – small country • Tariff imposed Effect of a tariff – large country • How is a large country different? Effect of a tariff – large country • No tariff Effect of a tariff – large country • Tariff imposed Welfare effects Types of tariff • Protective vs revenue • Specific, ad valorem, compound • Import, export, transit...
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