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| Author: | Haughton, J. Swaminathan, B. |
| Title: | The employment and welfare effects of quantitative restrictions on steel imports into the United States, 1955-1987 |
| Journal: | Journal of World Trade Law
1992 : APR, VOL. 26:2, p. 95-118 |
| Index terms: | EMPLOYMENT WELFARE USA IMPORTS STEEL INDUSTRY WAGE DETERMINATION |
| Language: | eng |
| Abstract: | The evolution of steel output, imports, exports, apparent supply and trend in employment over the period 1954-1991 is presented. Trade restrictions in steel (trigger price mechanism and Voluntary Restraint Agreements (VRA)) are discussed. A model is introduced and the effects of quantitative restriction on output, price, import level, and employment are estimated and presented. Welfare effects are assessed, findings are compared with findings of others, wage effects are calculated. It is concluded that steel industry needs an "adjustment period" during which it is protected from foreign competition. |
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