Disadvantageous Oil Tariffs and Dynamic Consistency
研究发现,如果一个大进口国更看重未来而非当前的石油消费,其未来进口量会低于能预先承诺关税时的水平,甚至可能比完全不征关税更糟。期货市场和石油储备能缓解这种不利影响,避免动态不一致问题。
A large importer who places relatively greater weight on future than current oil consumption will import less oil in the future than if it were able to commit itself in advance to future tariffs, and may find itself worse off than if it were unable to impose tariffs at all. Futures markets and storage modify these adverse effects and may avoid the problem of dynamic inconsistency. Copyright 1990 by American Economic Association.