Economics Dictionary of ArgumentsHome
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| Tariff responsivity: In economics, tariff responsivity refers to how much import demand (or related economic variables) responds to changes in tariffs. It essentially measures the elasticity of various economic factors - like import volumes, prices, or trade balances - to the imposition or removal of tariffs. A high responsivity means even small tariff changes have a significant impact. See also Tariffs, Elasticity._____________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. – Dictionary of Arguments. | |||
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Florence Jaumotte on Tariff Responsivity - Dictionary of Arguments
Jaumotte I 4 Tariff responsivity/Tariff impacts/value chains/Eugster/ Jaumotte/MacDonald/Piazza: The increases in bilateral tariffs between the US and China applied to goods at different places in the value chain (e.g., from steel to washing machines), while tariffs on and among other countries were much less affected. This raises the question to what extent countries and sectors not directly targeted by US and Chinese tariffs would also be affected, either through lower demand for their intermediate exports, which for instance were assembled in China, higher costs for intermediate inputs or lower competition in export markets. Several theoretical contributions have investigated this question and stressed that while China and the US are hurt the most by higher bilateral tariffs, other countries may either benefit or suffer depending on their sectoral composition (see IMF 2019(1) and references therein). >US Import Tariffs, >Tariff responsivity, >Tariff impacts, >Tariffs. 1. Caceres, Carlos, Rui Mano and Diego A. Cerdeiro, 2019. "Trade Wars and Trade Deals: Estimated Effects using a Multi-Sector Model," IMF Working Papers 2019/143, International Monetary Fund._____________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. "Vs" indicates differences in content, not necessarily the chronological progression of a controversy. If a German edition is specified, the page numbers refer to this edition. |
Jaumotte I Florence Jaumotte Johannes Eugster Margaux MacDonald, The Effect of Tariffs in Global Value Chains. IMF Working paper 22/40. International Monetary Fund. Washington, D.C. 2022 |
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