Quota‐Induced Cycles
比较关税与配额在寡头垄断下的动态效应，发现配额会导致出口量逐年单调变化，引发国内生产的季节性波动，并可能使企业利润高于等量关税下的水平。
We present a new framework to compare the dynamic effect of tariffs and quotas in the presence of oligopoly. Suppose that the domestic and the foreign firm play a quantity‐setting game over time in a perfectly stationary economy. A Markov‐perfect equilibrium has the foreign firm exporting at the constant rate under a tariff. In contrast, under the quota the rate of exports changes monotonically over the course of each year, causing seasonal fluctuations in domestic production. Quota‐induced cycles can make dynamic market segmentation possible and raise profits for both the firms above what they earn under the equal‐import tariff.