partⅱtrade theory (ch.8-11)国际经济学 克鲁格曼.docVIP

Chapter 8 The Instruments of Trade Policy * The instrument of trade policy and their objective. Instrument: (1) tariff (2) nontariff barriers: export subsidies、import quotas、voluntary export restraints、local content requirements …… Objective: to protect particular domestic sectors. * This chapter focuses on: the effects of the most important instruments of trade policy─costs and benefits analysis §1. Basic tariff analysis Specific tariff: a fixed charge for each unit of goods imported. ad valorem tariff: a fraction of the value of the imported goods. 1. Supply, demand, and trade in a single industry ·To derive and decide MD or XS in a single country: MD=D?S XS=S*?D* Figure 8-1 Deriving Home’s Import Demand Curve ·To determine the world price and the traded quantity: world demand=world supply or ∑D=∑S or ∑MD=∑XS D+D*=S+S* Figure 8-3 World Equilibrium 2. Effects of tariff ·A tariff raise the price in Home while lower the price in Foreign, PT=PT* +t . A Tariff in a Large Country ·The size of this effect on the world price is often very small. For?small country”, PT=PW +t . A Tariff in a Small Country 3. Measuring the amount of protection ?Tariffs may have very different effects on different stages of production of a good. ?Nominal tariff may not reflect the effective rate of protection. ERP=(VT?VW) / VW VT: value added in the presence of trade policies VW: value added at world price E.g. X2 and X3 are the inputs of X1 , the input─output coefficient a21=0.2 , a31=0.3 . If t1=50%、t2=40%、t3=10%. How much is the ERP of X1 ? VW=(1–0.2–0.3) =0.5 VT={[(1+0.5)–0.2×(1+0.4) –0.3×(1+0.1)] –(1–0.2–0.3)} =0.89 ERP=(VT?VW) / VW =(0.89–0.5) / 0.5=58% §2. Costs and benefits of a tariff 1. Consumer and producer surplus ·Consumer surplus is equal to the area under the demand curve and above the price. ·Producer surplus is equal to the area above the supply curve and below the price. Figure 8-7 Figure 8-8 2. Measuring the costs and benefit