haku: @indexterm Macroeconomic models / yhteensä: 204
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| Tekijä: | Long, N. V. Vousden, N. |
| Otsikko: | Protectionist responses and declining industries |
| Lehti: | Journal of International Economics
1991 : FEB, VOL. 30:1/2, p. 87-103 |
| Asiasana: | INDUSTRIES ECONOMIC ANALYSIS MACROECONOMIC MODELS EQUILIBRIUM ANALYSIS REVENUE RISK ORGANIZATIONAL DECLINE |
| Kieli: | eng |
| Tiivistelmä: | The basic Hillman model is presented; a general equilibrium model of a two-good, three-factor Ricardo-Viner economy is developed and the effect of a falling world import price on the domestic price of a small economy's importable good in the presence of an endogenously determined tariff is analysed. The outcome is sensitive to the way in which the tariff revenue is distributed and also to the different degrees of risk aversion of the economy's factors. Under reasonable assumptions, Hillman's result, that "a declining industry will continue to decline" appears to be supported. |
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