The Growth and Welfare Consequences of Differential Tariffs
在一个资本积累的小型开放经济特定要素模型中，分析差别关税对消费和投资的影响，重点揭示保护性贸易政策造成的跨期扭曲的福利成本，并得出关于关税改革的若干命题。
This paper analyzes the impact of differential tariffs on consumption and investment in a specific factors model of a small open economy in which capital is accumulated over time. Particular attention is devoted to the welfare aspects, highlighting the cost of the intertemporal distortions produced by protective trade policies. Several specific welfare propositions are obtained. First, tariff protection is shown to create short-run benefits but long-run costs in welfare. Second, the second-best policy for the two tariffs is characterized. Finally, several propositions summarizing the implications of our analysis for tariff reform are derived.