1  Introduction 导论  Basic Tariff Analysis 基本的关税分析  Costs and Benefits of a Tariff 关税成本与收益  Other Instruments of Trade Policy 其他贸易政策工具  The Effects of Trade Policy: A Summary 贸易政策效应  Summary 总结  Appendix I: Tariff Analysis in General Equilibrium 附录 1  Appendix II: Tariffs and Import Quotas in the Presence of Monopoly 附录 2 Chapter8 The Instruments of Trade Policy

2 Introduction  This chapter is focused on the following questions: 本章研究 的中心问题  What are the effects of various trade policy instruments? 不同贸易政策工具的效应  Who will benefit and who will lose from these trade policy instruments? 不同政策工具下谁受益，谁受损？  What are the costs and benefits of protection?  保护的成本与收益 Will the benefits outweigh the costs? 收益是否大于成本  What should a nation ’ s trade policy be? 一国贸易政策是怎 样的？  For example, should the United States use a tariff or an import quota to protect its automobile industry against competition from Japan and South Korea? 例如 美国对日本和韩国进口汽车的政策：关税还是补贴。

3 Classification of Commercial Policy Instruments 政策工具分类 Commercial Policy Instruments Trade Contraction Trade Expansion Tariff Export tax Import quota Voluntary Export Restraint (VER) Import subsidy Export subsidy Voluntary Import Expansion (VIE) PriceQuantity PriceQuantity

4 8-1 Basic Tariff Analysis 关税基本分析  Tariffs can be classified as: 关税分类  Specific tariffs ( 从量关税 )  Taxes that are levied as a fixed charge for each unit of goods imported 对每单位进口商品征收固定的税额  Example: A specific tariff of $10 on each imported bicycle with an international price of $100 means that customs officials collect the fixed sum of $10. 如：对每辆进口的自行车征收 10 元 关税  Ad valorem tariffs ( 从价关税 )  Taxes that are levied as a fraction of the value of the imported goods 对进口商品价值征收一定比例的关税。  Example: A 20% ad valorem tariff on bicycles generates a $20 payment on each $100 imported bicycle. 对每进口 100 元征收 20% 的关税。

5  A compound duty (tariff) is a combination of an ad valorem and a specific tariff.  Select tariff  Modern governments usually prefer to protect domestic industries through a variety of nontariff barriers, such as: 非关税壁垒  Import quotas 进口配额  Limit the quantity of imports 进口数量的限制  Export restraints (P186) 出口限制  Limit the quantity of exports 出口数量限制

6  Supply, Demand, and Trade in a Single Industry 供给、需求以及单一行业内贸易  Suppose that there are two countries (Home and Foreign). 两个国家  Both countries consume and produce wheat, which can be costless transported between the countries. 两者均生产和消费小麦，无运输成 本  In each country, wheat is a competitive industry. 小麦是竞争行业  Suppose that in the absence of trade the price of wheat at Home exceeds the corresponding price at Foreign. 在无贸易情况下，本国小 麦价格高于外国小麦的价格  This implies that shippers begin to move wheat from Foreign to Home. 意味着小麦将从外国运往本国。  The export of wheat raises its price in Foreign and lowers its price in Home until the initial difference in prices has been eliminated. 出口使外国小麦价格上升，本国小麦价格降低

7  To determine the world price (P w ， 世界价格 ) and the quantity trade (Q w ， 贸易量 ), two curves are defined:  Home import demand curve 进口需求曲线  Shows the maximum quantity of imports the Home country would like to consume at each price of the imported good. 本国消费者的需求量超过本国生产者 供给量的部分  That is, the excess of what Home consumers demand over what Home producers supply: MD = D(P) – S(P)  Foreign export supply curve 出口供给曲线  Shows the maximum quantity of exports Foreign would like to provide the rest of the world at each price 生产者供给量超过本国消费者需求的部分.  That is, the excess of what Foreign producers supply over what foreign consumers demand: XS = S*(P*) – D*(P*)

8 Quantity, Q Price, P Quantity, Q MD D S A PAPA P2P2 P1P1 S2S2 D2D2 D 2 – S 2 2 S1S1 D1D1 D 1 – S 1 1 Figure 8-1: Deriving Home’s Import Demand Curve( 进口需求曲线 )

9  Properties of the import demand curve 进口需求曲线的特征 :  It intersects the vertical axis at the closed economy price of the importing country. 和纵 坐标相交于不存在贸易时的价格点。  It is downward sloping. 向下倾斜  It is flatter than the domestic demand curve in the importing country. 比国内需求曲线更平 坦

10 P2P2 P*AP*A D*D* S*S* P1P1 XS Price, P Quantity, Q S *2 – D *2 S *2 D *2 Figure 8-2: Deriving Foreign’s Export Supply Curve 外国出口供给曲线 D *1 S *1 S *1 – D *1

11  Properties of the export supply curve 出 口供给曲线的特征 :  It intersects the vertical axis at the closed economy price of the exporting country. 交纵 坐标于封闭经济时价格水平  It is upward sloping. 向上倾斜  It is flatter that the domestic supply curve in the exporting country. 比国内供给曲线更平坦

12 Figure 8-3: World Equilibrium( 世界均衡） XS Price, P Quantity, Q MD PWPW QWQW 1

13  Useful definitions: 定义  The terms of trade is the relative price of the exportable good expressed in units of the importable good. 贸易条件  A small country is a country that cannot affect its terms of trade no matter how much it trades with the rest of the world. 小国：不 管其是否与其他国家进行贸易，该国不能影响到贸易条件的变化。 （无法影响外国出口商品的）  The analytical framework will be based on either of the following: 分析框架将基于以下两点：  Two large countries trading with each other 两大国相互贸易  A small country trading with the rest of the world 小国与其他国家 交易

14  Effects of a Tariff （关税的影响）  Assume that two large countries trade with each other. 假定两大国相互贸易  Suppose Home imposes a tax of $2 on every bushel of wheat imported. 假定本国对每单位进口小麦征收 2 美元关税  Then shippers will be unwilling to move the wheat unless the price difference between the two markets is at least $2. 出口 商只有在两国小麦价格差在 2 美元时，才愿意出口小麦。  Figure 8-4 illustrates the effects of a specific tariff of $t per unit of wheat. 图例说明

15 XS PTPT MD D*D* S*S* D S PWPW 2 QTQT 1 QWQW Figure 8-4: Effects of a Tariff 关税的影响分析 P*TP*T 3 t Price, P Quantity, Q Price, P Quantity, Q Price, P Quantity, Q Home market 本国 World market 世界 Foreign market 外国

16  In the absence of tariff, the world price of wheat (P w ) would be equalized in both countries. 在不存 在关税时，世界价格将与两国价格相等  With the tariff in place, the price of wheat rises to P T at Home and falls to P* T (= P T – t) at Foreign until the price difference is $t. 存在关税时，本国价 格提高，外国价格减少，其差额为关税 t  In Foreign: producers supply less and consumers demand more due to the lower price, so that fewer exports are supplied. 在外国，生产者将减少供应，消费 需求增加，更少的出口量  Thus, the volume of wheat traded declines due to the imposition of the tariff. 由于进口关税的存在，小麦的贸 易量将减少。  In Home: producers supply more and consumers demand less due to the higher price, so that fewer imports are demanded. 在本国，供应量增加，消费需求 减少，进口减少。

17  The increase in the domestic Home price is less than the tariff, because part of the tariff is reflected in a decline in Foreign ’ s export price. 国内价格上升的幅度小于关税， 因为有一部分关税反映在外国价格的降低上。  If Home is a small country and imposes a tariff, the foreign export prices are unaffected and the domestic price at Home (the importing country) rises by the full amount of the tariff. 如果本国是 小国，并征收关税，外国出口价格不受影响，本 国征收关税全部反映在本国价格上升上。

18 Figure 8-5: A Tariff in a Small Country 小国关税 S Price, P Quantity, Q D P W + t PWPW Imports after tariff S1S1 D1D1 Imports before tariff D2D2 S2S2

19  Measuring the Amount of Protection 衡 量保护程度  In analyzing trade policy in practice, it is important to know how much protection a trade policy actually provides. 保护的程度  One can express the amount of protection as a percentage of the price that would prevail under free trade. 一个简单的表达为：与自由贸易相比， 价格提高了多少 个百分比。  Two problems arise from this method of measurement: 这一方法衡量的两个问题  In the large country case, the tariff will lower the foreign export price. 在大国情况下，关税将降低 外国出口价格，而不是完全反映在本国价格的提 高上。  Tariffs may have different effects on different stages of production of a good. 关税对不同生产阶 段的产品具有不同的影响。

20  Effective rate of protection 有效保护率  One must consider both the effects of tariffs on the final price of a good, and the effects of tariffs on the costs of inputs used in production. 必须同时考虑关税 对中间产品和最终产品的保护  The actual protection provided by a tariff will not equal the tariff rate if imported intermediate goods are used in the production of the protected good. 如果进口中间品被投入到保 护产品的生产中，则关税实际保护率不等于关税率。  例 Example: A European airplane that sells for $50 million has cost $60 million to produce. Half of the purchase price of the aircraft represents the cost of components purchased from other countries. A subsidy of $10 million from the European government cuts the cost of the value added to purchasers of the airplane from $30 to $20 million. Thus, the effective rate of protection is (30-20)/20 = 50%.

21 ERR 有效保护率  有效保护率（ Effective Rate of Protection ， 简称 ERP ），是指关税对国内增加值（从而 对国内就业）的保护程度。有效保护率是用 征收进口关税后国内增加值的增加程度来度 量的。如果某种商品征收关税前的国内增加 值为 V ，征收关税后国内增加值为， ， 则有 效保护率为

22 美国、日本和欧共体的名义关税税率和实际关 税税率 欧共体日本美国 名义税 率 有效 税率 名义税 率 有效 税率 名义 税率 有效 税率 牛奶、奶 酪和黄油 可可产品 和巧克力 棉籽油 豆油 烟草和香 烟

23 Suppose that an automobile sells on the world market for $8000.The parts out of which that automobile is made sell for $6000.Country A wants to develop an auto assembly industry. Country B wants to develop a parts industry which already has an assembly industry. ① Country A places a 25 percent tariff on imported autos. （ in order to encourage a domestic auto industry) ② Country B imposes a 10 percent tariff on imported parts. （ in order to encourage domestic production of parts) Exercise(p191)

Costs and Benefits of a Tariff 关税 的成本和收益  A tariff raises the price of a good in the importing country and lowers it in the exporting country. 关税提高了商品在进口 国的价格，降低了在出口国家的价格。  As a result of these price changes:( 价格变化的结果 )  Consumers lose in the importing country and gain in the exporting country 进口国消费者福利损失，而出口国消费 者受益。  Producers gain in the importing country and lose in the exporting country 进口国生产者获益，而出口国受损。  Government imposing the tariff gains revenue 政府受益  To measure and compare these costs and benefits, we need to define consumer and producer surplus. 为了比较关税的成 本和收益，先定义消费者剩余和生产者剩余。

25  Consumer and Producer Surplus 消费者和生产者 剩余  Consumer surplus ( 消费者剩余 )  It measures the amount a consumer gains from a purchase by the difference between the price he actually pays and the price he would have been willing to pay. 是衡量消费者在一次购买中 他愿意支付的价格与他实际支付价格之间的差额。  It can be derived from the market demand curve. 可以从市场需 求曲线来推导。  Graphically, it is equal to the area under the demand curve and above the price. 等于需求曲线和价格之间的差额。  Example: Suppose a person is willing to pay $20 per packet of pills, but the price is only $5. Then, the consumer surplus gained by the purchase of a packet of pills is $15.

8 $12 9 $10 10 $9 11 D Figure 8-6: Deriving Consumer Surplus from the Demand Curve 从需求曲线推导消费者剩余 Price 价格, P Quantity, 数量 Q

27 Figure 8-7:Geometry of Consumer Surplus( 消费者剩余的几何图形 ) a b P1P1 P2P2 D Price, P Quantity, Q Q2Q2 Q1Q1

28  Producer surplus 生产者剩余  It measures the amount a producer gains from a sale by the difference between the price he actually receives and the price at which he would have been willing to sell.  It can be derived from the market supply curve.  Graphically, it is equal to the area above the supply curve and below the price.  Example: A producer willing to sell a good for $2 but receiving a price of $5 gains a producer surplus of $3.

29 Figure 8-8: Geometry of Producer Surplus d c P2P2 P1P1 S Price, P Quantity, Q Q2Q2 Q1Q1

30  Measuring the Cost and Benefits  Is it possible to add consumer and producer surplus?  We can (algebraically) add consumer and producer surplus because any change in price affects each individual in two ways:  As a consumer  As a worker  We assume that at the margin a dollar ’ s worth of gain or loss to each group is of the same social worth.

Figure 8-9: Costs and Benefits of a Tariff for the Importing Country(P195) PTPT PWPW P*TP*T b c d e D a = consumer loss (a + b + c + d) = producer gain (a) = government revenue gain (c + e) QTQT D2D2 S2S2 S S1S1 D1D1 Price, P Quantity, Q

32  The areas of the two triangles b and d measure the loss to the nation as a whole (efficiency loss) and the area of the rectangle e measures an offsetting gain (terms of trade gain).  The efficiency loss arises because a tariff distorts incentives to consume and produce.  Producers and consumers act as if imports were more expensive than they actually are.  Triangle b is the production distortion loss and triangle d is the consumption distortion loss.  The terms of trade gain arises because a tariff lowers foreign export prices.

33  If the terms of trade gain is greater than the efficiency loss, the tariff increases welfare for the importing country.  In the case of a small country, the tariff reduces welfare for the importing country.

Figure 8-10: Net Welfare Effects of a Tariff(P197) PTPT PWPW P*TP*T b d e D = efficiency loss (b + d) = terms of trade gain (e) Imports S Price, P Quantity, Q

35 美国某些进口商品关税的经济效应 产品关税％消费者成 本（百万 美元） 关税收入 （百万美 元） 生产者 收益 （千美 元） 载重成本 （百万美 元） 每一工作的消 费者成本（千 美元） 橡胶鞋 女鞋 瓷砖 箱包 皮手套 瓷器 假珠宝 玻璃器 皿 自行车

b a Figure 8-11: Effects of an Export Subsidy(p198) 8-3 Other Instruments of Trade Policy PSPS PWPW P*SP*S Price, P Quantity, Q Exports g f e Subsidy d c = producer gain (a + b + c) = consumer loss (a + b) = cost of government subsidy (b + c + d + e + f + g) D S

37  Export Subsidies: Theory  Export subsidy  A payment by the government to a firm or individual that ships a good abroad(p197)  When the government offers an export subsidy, shippers will export the good up to the point where the domestic price exceeds the foreign price by the amount of the subsidy.  It can be either specific or ad valorem.

38  An export subsidy raises prices in the exporting country while lowering them in the importing country.  In addition, and in contrast to a tariff, the export subsidy worsens the terms of trade.  An export subsidy unambiguously leads to costs that exceed its benefits. (P197)

Figure 8-12: Europe’s Common Agricultural Program(p199) Price, P Quantity, Q S D EU price without imports World price = cost of government subsidy Support price Exports

40  Import Quotas: Theory  An import quota is a direct restriction on the quantity of a good that is imported. (P200)  Example: The United States has a quota on imports of foreign cheese.  The restriction is usually enforced by issuing licenses to some group of individuals or firms.  Example: The only firms allowed to import cheese are certain trading companies.  In some cases (e.g. sugar and apparel), the right to sell in the United States is given directly to the governments of exporting countries.

41  An import quota always raises the domestic price of the imported good.  License holders are able to buy imports and resell them at a higher price in the domestic market.  The profits received by the holders of import licenses are known as quota rents.(P200)

42  Welfare analysis of import quotas versus of that of tariffs  The difference between a quota and a tariff is that with a quota the government receives no revenue.  In assessing the costs and benefits of an import quota, it is crucial to determine who gets the rents.  When the rights to sell in the domestic market are assigned to governments of exporting countries, the transfer of rents abroad makes the costs of a quota substantially higher than the equivalent tariff.

Price in U.S. Market 466 World Price 280 b c d Demand a Supply Price, $/ton Quantity of sugar, million tons Figure 8-13: Effects of the U.S. Import Quota on Sugar(P201) Import quota: 2.13 million tons = consumer loss (a + b + c + d) = producer gain (a) = quota rents (c)

44  Voluntary Export Restraints  A voluntary export restraint (VER) is an export quota administered by the exporting country.(P202)  It is also known as a voluntary restraint agreement (VRA).  VERs are imposed at the request of the importer and are agreed to by the exporter to forestall other trade restrictions.

45  A VER is exactly like an import quota where the licenses are assigned to foreign governments and is therefore very costly to the importing country.  A VER is always more costly to the importing country than a tariff that limits imports by the same amount.  The tariff equivalent revenue becomes rents earned by foreigners under the VER.  Example: About 2/3 of the cost to consumers of the three major U.S. voluntary restraints in textiles and apparel, steel, and automobiles is accounted for by the rents earned by foreigners.  A VER produces a loss for the importing country.

46  Local Content Requirements  A local content requirement is a regulation that requires that some specified fraction of a final good be produced domestically. (p203)  This fraction can be specified in physical units or in value terms.  Local content laws have been widely used by developing countries trying to shift their manufacturing base from assembly back into intermediate goods.

47  Local content laws do not produce either government revenue or quota rents.  Instead, the difference between the prices of imports and domestic goods gets averaged in the final price and is passed on to consumers.  Example: Suppose that auto assembly firms are required to use 50% domestic parts. The cost of imported parts is $6000 and the cost of the same parts domestically is $10,000. Then the average cost of parts is $8000 (0.5 x $ x $10,000).  Firms are allowed to satisfy their local content requirement by exporting instead of using parts domestically.

48  Other Trade Policy Instruments  Export credit subsidies  A form of a subsidized loan to the buyer of exports.  They have the same effect as regular export subsidies.  National procurement  Purchases by the government (or public firms) can be directed towards domestic goods, even if they are more expensive than imports.  Red-tape barriers  Sometimes governments place substantial barriers based on health, safety and customs procedures.

49 政府财政总支出占国内生产总值的比重 国家 美国 日本 德国 法国 英国 瑞典 欧共体

The Effects of Trade Policy: A Summary Table 8-1: Effects of Alternative Trade Policies(P206)

51 Summary  A tariff drives a wedge between foreign and domestic prices, raising the domestic price but by less than the tariff rate (except in the “ small ” country case).  In the small country case, a tariff is fully reflected in domestic prices.  The costs and benefits of a tariff or other trade policy instruments may be measured using the concepts of consumer and producer surplus.  The domestic producers of a good gain  The domestic consumers lose  The government collects tariff revenue

52 Summary  The net welfare effect of a tariff can be separated into two parts:  Efficiency (consumption and production) loss  Terms of trade gain (is zero in the case of a small country)  An export subsidy causes efficiency losses similar to a tariff but compounds these losses by causing a deterioration of the terms of trade.  Under import quotas and voluntary export restraints the government of the importing country receives no revenue.

Table 8AI-1: Free Trade Equilibrium for a Small Country Appendix I: Tariff Analysis in General Equilibrium(P211) Slope = - P * M /P * F Manufactures production and consumption, Q M, D M Food production and consumption, Q F, D F D1D1 Q1Q1

Q F, D F Q M, D M Q2Q2 D2D2 Slope = - P * M /P * F (1 + t) Table 8AI-2: A Tariff in a Small Country Appendix I: Tariff Analysis in General Equilibrium Q1Q1 D1D1

Table 8AI-3: Effect of a Tariff on the Terms of Trade Appendix I: Tariff Analysis in General Equilibrium F M1M1 Slope = (P * M /P * F ) 1 1 Slope = (P * M /P * F ) 2 M2M2 2 3 Home exports of manufactures, Q M - D M Foreign imports of manufactures, D * M - Q * M Home imports of food, D F - Q F Foreign exports of food, Q * F - D * F O

D Appendix II: Tariffs and Import Quotas in the Presence of Monopoly Table 8AII-1: A Monopolist Under Free Trade Price, P Quality, Q PWPW PMPM MC MR DfDf QMQM QfQf

D Appendix II: Tariffs and Import Quotas in the Presence of Monopoly Table 8AII-2: A Monopolist Protected by a Tariff Price, P Quality, Q PWPW PMPM MC MR DfDf QMQM QfQf DtDt QtQt P W + t

Price, P Quality, Q PWPW PqPq Appendix II: Tariffs and Import Quotas in the Presence of Monopoly Table 8AII-3: A Monopolist Protected by an Import Quota MC MR q DqDq D QqQq

Price, P Quality, Q PWPW PqPq P W + t Appendix II: Tariffs and Import Quotas in the Presence of Monopoly Table 8AII-4: Comparing a Tariff and a Quota MC MR q DqDq D QtQt QqQq

60 Reading  孙烽（ 2000 ）：关税、技术创新与经济增长，世 界经济文汇，第 1 期  耿伟（ 2003 ）：关于贸易保护政策选择的理论分 析，中央财经大学学报，第 7 期

61 Problem  P207,3