The effects of periodic quotas limiting the stock of imports of durables |
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Authors: | Gérard Gaudet Stephen W Salant |
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Institution: | a Département de sciences économiques and CIREQ, Université de Montréal, C.P. 6128, Succursale Centre-ville, Montréal, Québec, Canada H3C 3J7 b Department of Economics, University of Michigan, 611 S. Tappan Street, Ann Arbor, MI 48109-1220, USA |
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Abstract: | Analyses of trade quotas typically assume that the quota restricts the flow of some nondurable good. Many real-world quotas, however, restrict the stock of durable imports. We consider the cases where (1) anyone is free to export against such quotas and where (2) only those allocated portions of the total quota are free to export against such quotas. Recent econometric investigations of such quotas have focused on the price of the durable as an indicator of tightness induced by the quota. We show why this is an inappropriate indicator and suggest alternatives. |
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Keywords: | F13 F22 D0 |
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