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Articles : Domestic Resource Cost
( Edward Tower ) 세종대학교 경제통합연구소 1992 Journal of Economic Integration Vol.7 No.1
This paper resolves several points about proper use of the domestic resource cost (DRC) concept. It explores its relationship to the effective rate of protection, resolves the conflict between differing views of the DRC,. generalizes it, and argues that the DRC depends on the assumptions made about the hypothetical Policy intervention and adjustment mechanisms, so these should always be specified along with any DRC calculation. Finally, DRCs are argued to be only some of many potentially useful cost/benefit ratios that a general equilibrium model will generate, and a plea is made for more frequent use of such models in cost/benefit analysis.
Tower, Edward 세종대학교 국제경제연구소 1992 Journal of Economic Integration Vol.7 No.1
This paper resolves several points about proper use of the domestic resource cost (DRC) concept. It explores its relationship to the effective rate of protection, resolves the conflict between differing views of the DRC, generalized it, and argues that the DRC depends on the assumptions made about the hypothetical policy intervention and adjustment mechanisms, so these should always be specified along with any DRC calculation. Finally, DRCs are argued to be only some of many potentially useful cost/benefit ratios that a general equilibrium model will generate, and a plea is made for more frequent use of such models in cost/benefit analysis.
Can a Periodic VER Raise Importing Country Welfare?
( Omer Gokcekus ),( Edward Tower ) 세종대학교 경제통합연구소 1997 Journal of Economic Integration Vol.12 No.4
Several authors have argued that if exporting firms anticipate a voluntary export restriction in a future period, and they expect VERs to be allocated in proportion to past exports, then they have an incentive to dump in the earlier period. In this paper we ask: How does a regime characterized by periodic VERs affect aggregate welfare, consumer welfare and import-competing producer welfare in the importing country? We discover paradoxically, that the answers are all uncertain. However, such a regime always shrinks worldwide efficiency, and normally, for the importer it shrinks aggregate welfare and consumer welfare and raises producer welfare. (JEL Classification: F13)
Can a Periodic VER Raise Importing Country Welfare?
Gokcekus, Omer,Tower, Edward 세종대학교 국제경제연구소 1997 Journal of Economic Integration Vol.12 No.4
Several authors have argued that if exporting firms anticipate a voluntary export restriction in a future period, and they expect VERs to be allocated in proportion to past exports, then they have an incentive to dump in the earlier period. In this paper we ask: How does a regime characterized by periodic VERs affect aggregate welfare, consumer welfare and import-competing producer welfare in the importing country? We discover paradoxically, that the answers are all uncertain. However, such a regime always shrinks world-wide efficiency, and normally, for the importer it shrinks aggregate welfare and consumer welfare and raises producer welfare. (JEL Classification: F13)
The Employment Maximizing Import Quota Under Domestic Monopoly
William H. Kaempfer,Edward Tower,Thomas D.Willett Jungseok Research Institute of International Logis 2003 JOURNAL OF INTERNATIONAL LOGISTICS AND TRADE Vol.1 No.1
We consider a domestic monopolist who is protected by an import quota on the product he produces. He faces a domestic demand curve which is characterized by a constant price elasticity. He is unable to export and has an upward sloping marginal cost curve. We demonstrate that in this case his employment of labor rises with the import quota until imports rise to a fraction 1/e of domestic output where e is the elasticity of domestic demand. Thus, the employment maximizing quota sets permissible imports at a fraction of domestic output which is at least as high as the reciprocal of the elasticity of demand. We also make a case for liberalizing all the way right away, "cold turkey liberalization".