While the Uruguay Round resulted in greater transparency of agricultural trade barriers and limited liberalization, substantial barriers to trade in livestock products remain. This paper makes a projection of the global economy to 2005, and then seeks to determine the impacts of alternative outcomes of the next WTO Millenium Round. Three options for reform are explored – one is restricted to fr...

This paper develops the theory of the optimal tariff under the Byrd Amendment when producers are also processors. The optimal tariff in this case is equal to the optimal processor tariff (when the processor is not also a producer) and is smaller than the optimal producer tariff (when the producer is not also a processor). In a vertical market structure, the welfare of a producer/processor (P/P)...

Red-tape barriers (RTBs) are an important source of trade costs, but have received little scholarly attention. Here we take a first step toward a theory of RTBs, and show that their implications are very different from those of more traditional trade barriers. Our model highlights that RTBs have important impacts on the extensive margin of trade, and yields rich predictions on how changes in th...

We extend the protection for sale framework by modelling non tariff barriers. Explicitly introducing partial rent capturing leads to a testable specification that bridges the gap between the theoretical Grossman and Helpman (1994) model and its empirical implementation, where coverage ratios have been used to measure protection. Our econometric analysis supports the augmented specification and ...

The implications of red-tape barriers (RTBs) under lobbying pressures differ markedly from those traditional trade barriers. RTBs affect the extensive margin and may respond in opposite ways to reductions tariffs versus natural costs: former induce a protectionist backlash that reduce both at intensive margin, whereas latter reduction magnifying direct trade-increasing effects. Furthermore, if ...

Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 445 R I. The Formative Differences Between the Basic Regulatory Principles of the United States and the European Union . . 448 R II. The Impacts of Regulatory Incoherence . . . . . . . . . . . . . . . . . . . 453 R A. Differences in Industry and Trade Regulation between the Uni...

This paper examines exchange rate pass-through in the automobile markets of twelve European Union countries. Using retail prices for individual car models for the 1993-96 period our estimates are based on a hedonic pricing framework which controls for model specific characteristics. Pass-through is found to be significantly below fifty percent in all countries. There is no evidence that either ...