Economics Dictionary of ArgumentsHome
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| Trade policies: Trade policies refer to government strategies and regulations that influence the flow of goods and services across borders. These policies include tariffs, quotas, subsidies, and trade agreements designed to protect domestic industries, promote exports, regulate imports, and foster economic relationships between nations. _____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Anthony J. Venables on Trade Policies - Dictionary of Arguments
Krugman III 62 Trade policies/competition/international trade /Venables: Ranking the effectiveness of policy across cases yield some quite surprising results. Oligopoly: As would be expected, under oligopoly, policy is more effective if the industry has Cournot competition than if it has Bertrand competition*. >Cournot Competition, >Bertrand Competition. But with free entry this is (in most cases) reversed; in the long run there are greater gains from policy under the more competitive Bertrand interpretation of the industry, similarly, with the segmented integrated dimension. >Imperfect competition, >International trade, >Trade policies, >New trade theory. Oligopoly: Under oligopoly, policy is more effective when markets are segmented than when they are integrated; with free entry this distinction is less clear, and in most cases the gains from policy are greater when markets are integrated. Sensitivity/equilibrium: Despite these changes in ranking, the overall sensitivity of results with respect to equilibrium type is not as great as might have been feared from a reading of the theoretical literature. For example, there are relatively few cases in which moving from one type of equilibrium to another changes the sign of the welfare effect of the policy. Tariffs: The tariff simulations report four different tariff rates on nine industries for both oligopoly and free entry. This generates 72 cases for each of which results were derived under the four different equilibria; in 10 of the 72 cases there are sign differences between the equilibria. Taxation: Export taxes were evaluated at three different rates, and in only 7 of the 54 cases are there sign changes as the experiments go across equilibria. * ((s) In the economics of oligopoly, the Cournot and Bertrand models explore different ways firms can compete. Cournot models focus on quantity competition, where firms choose output levels, while Bertrand models focus on price competition, where firms set prices. In Bertrand competition, firms making identical products often reach an equilibrium where prices are equal to marginal costs, leading to zero economic profits. In contrast, Cournot competition typically leads to higher prices and positive profits for firms, as they limit their output to maximize profits.) Anthony J. Venables. „Trade Policy under Imperfect Competition: A Numerical Assessment.“In: Paul Krugman and Alasdair Smith (Eds.) 1994. Empirical Studies of Strategic Trade Policy. Chicago: The University of Chicago Press._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Venables, Anthony J. EconKrug I Paul Krugman Volkswirtschaftslehre Stuttgart 2017 EconKrug II Paul Krugman Robin Wells Microeconomics New York 2014 Krugman III Paul Krugman Alasdair Smith Empirical Studies of Strategic Trade Policy Chicago: The University of Chicago Press 1994 |
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