Quotas and equilibrium relative prices in the trade restricting country |
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Authors: | Werner A. De Haan Patrice E. Visser |
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Affiliation: | University of Amsterdam, 1016 GD Amsterdam, The Netherlands |
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Abstract: | This paper is concerned with the effects of international trade restriction through quotas. It is shown that a casual relationship exists between the fraction of licences distributed domestically, the terms of trade, and the domestic relative price of the importable. |
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