Effects of Restraining Steel Exports from the Republic of Korea and Other Countries to the United States and the European Economic Community
构建了一个三区域世界贸易模型，评估进口国对出口国施加出口限制的影响，并以韩国钢铁出口至美国和欧共体为例，发现限制导致美国和欧共体损失巨大，而韩国和世界其他地区获得净收益。
In this article a model is developed to evaluate the impact on an exporting country of a restraint imposed on its export by an importing economy in the context of a three-region model of world trade in a single product. The welfare changes in any of the three regions in the model and in the global economy can be evaluated. The model is applied to the restraints imposed on steel exports from the Republic of Korea to the United States and the European Economic Community (EEC). The United States and the EEC are found to have incurred significant losses as a result of the restraints. The largest part of these losses are quota rents transferred to Korea and the rest of the world. Under reasonable parameter assumptions, Korea and the rest of the world obtain net gains from the quotas, because the resource misallocation costs are smaller than the quota rents. The model is modified to analyze a tariff barrier rather than a quantitative restraint. It is found that an "equivalent " tariff on steel transforms Korea and the rest of the world from net gainers to net losers as a result of a restraint. The steel producers of the United States and the European Economic Community have undergone significant dislocations as steel demand has declined since 1975, and the location of the lowest steelmaking costs has shifted first to Japan in the 1960s and early 1970s, and later to the Republic of Korea and Brazil. ' The U.S. and EEC governments have responded with increasing protection. Since 1978, the EEC has maintained an extensive system of "voluntary restraint agreements" (vRAs), which limit steel imports. Although the United States had a period of 1. See Tarr (forthcoming) for the details of the decline in demand, output, and employment, as well as the shifts in relative costs. David G. Tarr is a senior economist with the U.S. Federal Trade Commission. This article is based on a