The US Gains From Trade: Valuation Using the Demand for Foreign Factor Services
通过估计美国对外国要素服务的需求,量化了贸易带来的福利收益,即消费者为避免回到自给自足状态愿意支付的金额。
About eight cents out of every dollar spent in the United States is spent on imports. What if, because of a wall or some other extreme policy intervention, imports were to remain on the other side of the US border? How much would US consumers be willing to pay to prevent this hypothetical policy change from taking place? The answer to this question represents the welfare cost from autarky or, equivalently, the welfare gains from trade. In this article, we discuss how to evaluate these gains using estimates of the demand for foreign factor services.