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Tariff Effects in Large and Small Countries by hims08 is a document available to read on EtoBox.
What is Tariff Effects in Large and Small Countries about?
The document summarizes the effects of tariffs in partial equilibrium models for small and large countries. For small countries, a tariff raises domestic prices but not world prices, reducing imports and causing welfare losses. For large countries, a tariff can lower world prices in addition to raising domestic prices, potentially gaining government revenue and allowing welfare gains. A prohibitive tariff eliminates all imports, maximizing welfare losses.
- Author
- hims08
- Language
- EN