Stackelberg竞争条件下的最佳福利关税与最大收入关税

文章考察Stackelberg竞争条件下的最佳福利关税与最大收入关税。分析表明,最佳福利关税与最大收入关税的相对大小主要取决于产品之间的相互关系和国内外企业的成本差异。当产品是互补品时,最佳福利关税总是小于最大收入关税;当产品是替代品时,最佳福利关税与最大收入关税的关系,既取决于产品间的替代程度又取决于国内外企业间的成本差异。产品的替代程度较弱时,最大收入关税总是大于最佳福利关税;产品的替代程度较强时,若国内外厂商间的成本差异越小,则最佳福利关税越有可能超过最大收入关税。     

Steepest ascent tariff reform

The policy reform literature is primarily concerned with the construction of reforms that yield welfare gains. By contrast, this paper’s contribution is to develop a theoretical concept for which the focus is upon the sizes of welfare gains accruing from policy reforms rather than upon their signs. In undertaking this task, and by focusing on tariff reforms, we introduce the concept of a steepest ascent policy reform, which is a locally optimal reform in the sense that it achieves the highest marginal gain in utility of any feasible local reform. We argue that this reform presents itself as a natural benchmark for the evaluation of the welfare effectiveness of other popular tariff reforms such as the proportional tariff reduction and the concertina rules, since it provides the maximal welfare gain of all possible local reforms. We derive properties of the steepest ascent tariff reform, construct an index to measure the relative welfare effectiveness of any given tariff reform, determine conditions under which proportional and concertina reforms are locally optimal and provide illustrative examples.     

Capital Imports and Tariffs

This paper develops a three‐sector, three‐factor specific factor model with a tariff and presents conditions under which capital imports and tariffs can be welfare enhancing in a developing country. The impact on welfare depends on the tariff revenue effect and the repatriation effect. A capital import is welfare enhancing if it reduces the domestic output of imports. A tariff is welfare enhancing only if it reduces the return to foreign capital.     

Maximum-revenue tariffs versus free trade

Welfare with the maximum-revenue tariff is compared to free-trade welfare under Cournot duopoly with differentiated products; under Bertrand duopoly with differentiated products; and under perfect competition in the case of a large country able to affect its terms of trade. Under Cournot duopoly and Bertrand duopoly, assuming linear demands and constant marginal costs, welfare with the maximum-revenue tariff is always higher than free-trade welfare. Under perfect competition, assuming linear demand and supply, welfare with the maximum-revenue tariff will be higher than free-trade welfare if the country has sufficient market power.     

OPTIMUM-WELFARE AND MAXIMUM-REVENUE TARIFFS UNDER BERTRAND DUOPOLY

This article derives the maximum‐revenue tariff and the optimum‐welfare tariff under Bertrand duopoly with differentiated products. It is shown that both tariffs are lower under Bertrand duopoly than under Cournot duopoly. Also, the optimum‐welfare tariff may exceed the maximum‐revenue tariff under both Bertrand duopoly and Cournot duopoly. This result is more likely the lower the costs of the home firm relative to the costs of the foreign firm, and the greater the degree of product substitutability. Also, it is shown that the optimum‐welfare tariff is less likely to exceed the maximum‐revenue tariff under Bertrand duopoly than under Cournot duopoly.     

Flexible and welfare-consistent tariff aggregation over exporter regions

In this paper we improve on existing tariff aggregation techniques in applied equilibrium models (AEM) with the aim of correcting for two sources of bias in simulated welfare results: (1) aggregation over exporter regions with significant tariff dispersion and (2) variable tariff rates determined by Tariff Rate Quota (TRQ) regimes. Both aspects seem important due to an increasing number of bilateral FTAs which drive up tariff divergence across countries and tend to apply TRQs, at least temporarily. We demonstrate that the proposed aggregation technique can handle both tariff and non-tariff barriers to trade by combining a number of tariff indexes in a modified trade balance condition in a welfare-consistent manner. Additionally, different rent-allocation shares for TRQs can be easily introduced in our methodological extension. We also address the implications of some rather strict behavioral assumptions with regard to demand that welfare consistent aggregation requires. An empirical analysis of the Korean dairy market in the EU–South Korea FTA using the proposed method shows that simulated welfare gains are largely affected by the tariff aggregation technique over regions and trade policy instruments. Based on this finding we recommend the more widespread application of welfare consistent tariff aggregation in applied modeling and further research on that topic.     

On the Equivalence of Tariffs and Quotas under a Revenue Constraint

This paper sets out a duopolistic model to examine the price and welfare equivalence of tariffs and quotas, given the quota rent is equal to the tariff revenue. It shows that the domestic welfare ranking of the two trade policies crucially depends on the relative costs of the domestic and foreign firms; when the domestic firm's relative costs are lower than those of the foreign firm, a quota regime generally leads to a higher welfare level than that of an equivalent tariff regime. This finding contrasts sharply with the conclusions of Dasgupta and Stiglitz (1977 ), where it was found that a tariff regime always generates higher domestic welfare.     

MFN vs Tariff Discrimination in the Presence of Cross Ownership

We develop a three‐country two‐firm model to examine the superiority of most favored nation (MFN) vs tariff discrimination in global welfare by taking into account the cross ownership between exporters. We obtain several interesting results as follows. First, given cross ownership of financial interests and linear demand, the government of the importing country will impose a lower (higher) tariff on the low‐cost (high‐cost) firm and the global welfare under tariff discrimination will be higher than that under MFN, regardless of whether the mode of competition is Cournot or Bertrand competition, when the magnitude of cross ownership is relatively large compared with the cost difference. Second, given the cross ownership of corporate control and linear demand, the global welfare under tariff discrimination will be identical to that under MFN.     

A larger country sets a lower optimal tariff

We develop a new optimal tariff theory that is consistent with the fact that a larger country sets a lower tariff. In our dynamic Dornbusch–Fischer–Samuelson Ricardian model, the long‐run welfare effects of a rise in a country’s tariff consist of the direct revenue, indirect revenue, and growth effects. Based on this welfare decomposition, we obtain two main results. First, the optimal tariff of a country is positive. Second, the optimal tariff of a country is likely to be decreasing in its absolute advantage parameter, implying that a larger (i.e., more technologically advanced) country sets a lower optimal tariff.     

The Mercantilist Index of Trade Policy*

We introduce an index of trade policy restrictiveness defined as the uniform tariff that maintains the same trade volume as a given tariff/quota structure. Our index overcomes the problems of the trade‐weighted average tariff: It avoids substitution bias, correctly accounts for general equilibrium transfers, and takes import volume instead of welfare as benchmark. Empirical applications to international cross section and time‐series comparisons of trade policy confirm our theoretical results: Trade‐weighted average tariffs generally underestimate the true height of tariffs as measured by the trade‐volume‐equivalent index; this in turn always underestimates the welfare‐equivalent index.     

An analysis of the MFN clause under asymmetries of cost and market structure

Abstract.  We conduct a welfare comparison of MFN and tariff discrimination in an oligopoly model of trade between two exporting countries and one importing country. While MFN dominates tariff discrimination from a world welfare perspective when exporting countries are asymmetric with respect to either cost or market structure, such need not be the case when both types of asymmetries co‐exist. In particular, when high‐cost exporters are merged and the cost disadvantage of the merged unit relative to competing firms is of intermediate magnitude, tariff discrimination can be welfare preferred to MFN (even when the average tariff is actually lower under MFN). JEL classification: F13, F12     

Smuggling and Bhagwati's Nonequivalence Between Tariffs and Quotas

The authors extend Professor Bhagwati's analysis about the nonequivalence between trade policy instruments when domestic production is monopolized and the terms of trade are endogenous, by allowing for smuggling. They show that the dominance of the ad valorem tariff over the quota is not robust. Tariffication can lower welfare even when the level of illegal imports is quite small. However, tariffication with a specific tariff is always beneficial because the specific tariff dominates the ad valorem tariff and the quota with or without smuggling. Smuggling (or the threat) also tends to lower the second–best tariff/quota, and increases welfare when imports are restricted by a quota, but lowers it under a tariff.     

North–South asymmetry,unilateral environmental policy and carbon tariffs

This paper focuses on the potential impact of a carbon tariff on carbon emissions, North–South trade and welfare. We use a North–South trade model, where North implements a unilateral environmental policy on domestic carbon-intensive industries followed by a carbon tariff on imports from South. Unlike the existing studies, we allow asymmetry in clean production technologies and marginal environmental damage. We show that a carbon tariff can reduce the global carbon emission via the use of a more advanced clean production technology in North, which increases the firm profit and welfare. However, improvement in welfare of North is associated with a decrease in global trade flows and welfare of South. We find that, in the presence of asymmetry in clean production technologies between North and South, a carbon tariff introduced by the North can eliminate carbon leakage, but the exports of South decrease below the pre-unilateral environmental policy level and hence North can potentially use a carbon tariff for trade protectionism in the name of reducing carbon leakage in South.     

THE WELFARE EFFECTS OF FOREIGN CAPITAL INFLOW WITH TARIFF-RIDDEN AND QUOTA-RESTRICTED IMPORTS*

The welfare effects of foreign capital inflow and changes in the foreign price and tariff rate of a tariff-ridden imported good are considered for a small country for both 3 times 2 and 3 times 3 trade models with a quota-restricted imported good (whose special case is a nontraded good). For the 3 times 2 model, foreign capital inflow does not affect home welfare when there is no tariff on imports, but it harms the home country if a tariff is imposed on the imports to the extent that the tariff-ridden imported good is more capital intensive than the exported good. On the other hand, for the 3 times 3 model the foreign-capital inflow benefits the home country if the tariff rate is below a certain level under the analogous capital-intensity assumptions. The welfare effects of changes in the foreign price of the tariff-ridden good and its tariff rate remain the same for both models.     

The welfare implications of trade liberalization between the Southern Mediterranean and the EU

The impact on the Southern Mediterranean Countries (SMC) of the current process of trade liberalization with the European Union is explored. The methodology is that of computable general equilibrium modelling under imperfect competition and the model includes ten countries and 11 sectors. This allows for both a cross-country and cross-sectoral analysis of the results. The experiments considered are the full liberalization of tariffs, as well as changes in market access and trade-induced changes in productivity. A key feature of the paper is that the phased introduction of tariff reductions is allowed for as explicitly envisaged in the Agreements. The results show that the process of liberalization may have a substantial, though non-monotonic, impact on the SMC economies in terms of both changes in production and through this on welfare. The welfare impact is potentially very high in particular for the high tariff economies. The sources of the welfare gain tend to derive from perfectly competitive explanations of trade for the high tariff economies, and from imperfectly competitive explanations of trade for the low tariff economies.     

Welfare‐improving Coordinated Tariff and Sales Tax Reforms under Imperfect Competition

This paper studies the welfare effects of coordinated domestic sales tax reform associated with a reduction of the import tariff under imperfect competition. We set up a simple oligopoly trading model where domestic and exporting firms compete in the home market. We show that, if the initial levels of import tariff and sales tax are positive, there always exist welfare‐improving sales tax reforms. In some cases, a reduction of the sales tax accompanied by a reduction of the import tariff increases social welfare, whereas in other cases, raising the sales tax can increase social welfare.     

A welfare analysis of tariffs and equivalent quotas under demand uncertainty: Implications for tariffication

Under market demand uncertainty, we show that quotas can result in a welfare advantage over tariffs for an importing country despite that its government does not capture any quota rents. Specifically, the conditions under which an equivalent quota yields higher expected welfare than a tariff are shown to depend on a set of economic variables. These variables include the initial tariff rate, the relative efficiency in production between home and foreign firms, the probability distribution of random demand shocks that make the quota binding or non-binding under uncertainty, as well as the variance of the stochastic market demand. The analysis of this paper has welfare implications for tariffication.     

Optimal patent licensing—Two or three-part tariff

We look into technology transfer by an insider patentee in a spatial duopoly model under three types of licensing contracts—(i) two-part tariff with fixed fee and per-unit royalty, (ii) two-part tariff with fixed fee and ad-valorem royalty and (iii) general three-part tariff with fixed fee, per-unit and ad-valorem royalties. Under two-part tariff contracts, the licenser is better off with the per-unit royalty contract but the general contract does better than the other contracts. In contrast to the existing literature, all three licensing contracts may make the consumers worse-off compared to no licensing, with the lowest consumer surplus achieved under the general licensing contract. Welfare under the general licensing contract is equal to the welfare under two-part tariff with ad-valorem royalty and it is higher than the welfare under no licensing but lower than the welfare under two-part tariff with per-unit royalty. Hence, the general three-part licensing contract is privately optimal but not socially optimal. Similar conclusions hold also under a nonspatial linear demand model with differentiated products.     

最优关税和部分私有化战略-产品差异的混合寡头模型

本文通过构建一个双寡头垄断竞争的博弈模型,探讨了存在产品差异的混合寡头市场(mixed oligopoly)中,国内外企业的产品差异程度和公有企业私有化程度对最优关税的影响。研究结果表明:无论政府以收入极大化还是福利极大化为目标,其制定的关税税率都应随着私有化程度和产品差异程度的提高而提高,政府福利目标与关税收入目标都与产品差异程度成正比。与最近的其他研究发现不同,在不存在私有化或者当私有化程度相对较低而差异程度相对较高时,收入极大化关税税率总是高于福利极大化关税税率。同时本文还得出,福利极大化下的社会最优私有化比例总是大于关税收入极大化的社会最优私有化比例。因此,以社会福利极大化为目标的政府比以关税收入极大化为目标的政府更加倾向于私有化本国的公有企业。     

Tariffs and Welfare In A Dynamic Differentiated Oligopoly*

Using a dynamic general-equilibrium environment with strategically interacting oligopolists, this paper demonstrates that dynamic elements will significantly alter the equilibrium effects of tariff policy. In particular, the tariff rate which maximizes aggregate steady state welfare is decreasing in the level of adjustment costs. Furthermore, when tariff rates change, there are short-run welfare losses along the dynamic transition path to the new steady state. Gradual implementation of policy can avoid these losses. This provides a justification for the gradual implementation of tariff reductions in the GATT rounds or in the Free Trade Agreement between Canada and the United States.