On the functional relationship between tariffs and welfare
This paper uses a model of trade in two commodities between two countries to establish the following proposition. If the foreign offer curve has no points of inflection and if for each home rate of duty the equilibrium most favorable to the home country is selected (or else there is only one equilibrium), then as the rate of duty increases from zero, home welfare first rises then declines while foreign welfare steadily falls. © 1975.
Published Version (Please cite this version)10.1016/0022-1996(75)90004-5
Publication InfoTower, E (1975). On the functional relationship between tariffs and welfare. Journal of International Economics, 5(2). pp. 189-199. 10.1016/0022-1996(75)90004-5. Retrieved from https://hdl.handle.net/10161/1959.
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Professor of Economics
Professor Tower specializes in finance, computable general equilibrium modeling, macroeconomics, development economics, microeconomics, and managerial economics. He conducts a majority of his research within the study of trade and development, exploring a variety of variables from tariffs, quotas, and time zone arbitrage, to equities, mutual funds, and index mutual funds. Since he began publishing his work in 1965, he has contributed over 130 articles to leading academic journals and has had s