SHERP

The Welfare Effects of Voluntary Export Restraints

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Authors
Yoshida, Chisato
Issue Date
1999
Publisher
Seoul Journal of Economics
Citation
Seoul Journal of Economics 12 (No. 2 1999): 143-156
Keywords
duopoly modelVERsvoluntary export restraints
Abstract
This paper examines a duopoly model of trade consisting of a home and a foreign firm with conjectural variation approach. It analyzes the effects of voluntary export restraints (VERs) imposed on the foreign firm on the profits of both firms and on the home country's welfare, when these VERs are lower than the lowest level of imports among free-trade equilibria under conjectural variations. It is found that such VERs increase the home firm's profits, reduce the foreign firm's profits, and may increase the home country's welfare under some circumstances.
ISSN
1225-0279
Language
English
URI
http://hdl.handle.net/10371/1153
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College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.12(2) (Summer 1999)
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