Equity, Welfare, and the Setting of Trade Policy in General Equilibrium

The authors analyze general equilibrium relationships between trade policy and the household distribution of income, decomposing social welfare into real income level and variance components and emphasizing Gini and Atkinson indexes. They embed these inequality-adjusted social welfare functions in a...

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Main Authors:	Francois, Joseph, Rojas-Romagosa, Hugo
Format:	Policy Research Working Paper
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	AGGREGATE CONSUMPTION ASSETS AVERAGE AVERAGE INCOME AVERAGE INCOMES AVERAGE TARIFFS BENCHMARK CAUSE INEQUALITY COMPETITIVE MARKETS CONSTANT RETURNS CONSTANT RETURNS TO SCALE CONSUMER PRICE INDEX CONSUMER PRICES COUNTRY CHARACTERISTICS COUNTRY SIZE COUNTRY TARIFF DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DISTRIBUTION OF INCOME DISTRIBUTIONAL CONCERNS DISTRIBUTIONAL EFFECT DISTRIBUTIONAL EFFECTS DISTRIBUTIONAL IMPACT ECONOMIC GROWTH ECONOMIC INEQUALITY ECONOMIC OUTCOMES ECONOMIC REVIEW ECONOMIC STRUCTURE ECONOMIC STUDIES ECONOMIC THEORY ELASTICITY EMPIRICAL EVIDENCE EMPIRICAL MODELS EQUAL SHARES EQUATIONS EQUILIBRIUM EQUILIBRIUM PRICES EQUILIBRIUM RATE EXPECTED UTILITY EXPLAINING INEQUALITY EXTERNAL TRADE FACTOR ENDOWMENTS FACTOR PRICE FOREIGN TRADE FREE TRADE FUNCTIONAL FORM FUNCTIONAL FORMS GDP GDP PER CAPITA GINI COEFFICIENT GINI INDEX HOUSEHOLD INCOME IMPACT OF INEQUALITY IMPACT OF TRADE IMPORT PROTECTION IMPORT TARIFF IMPORT TARIFFS INCOME INCOME DISTRIBUTION INCOME DISTRIBUTIONS INCOME EFFECT INCOME INEQUALITY INCOME LEVEL INCOME LEVELS INCOME SCALE INCOME SHARE INCOME SHARES INCOMES INCREASING GROWTH INDUSTRIALIZATION INEQUALITY INEQUALITY AVERSION INEQUALITY INDEX INEQUALITY MEASURE INEQUALITY MEASURES INTERNATIONAL TRADE LABOR INCOME LORENZ CURVE
Online Access:	http://documents.worldbank.org/curated/en/2005/10/6312474/equity-welfare-setting-trade-policy-general-equilibrium http://hdl.handle.net/10986/8649

id	okr-10986-8649
recordtype	oai_dc
spelling	okr-10986-86492021-04-23T14:02:43Z Equity, Welfare, and the Setting of Trade Policy in General Equilibrium Francois, Joseph Rojas-Romagosa, Hugo AGGREGATE CONSUMPTION ASSETS AVERAGE AVERAGE INCOME AVERAGE INCOMES AVERAGE TARIFFS BENCHMARK CAUSE INEQUALITY COMPETITIVE MARKETS CONSTANT RETURNS CONSTANT RETURNS TO SCALE CONSUMER PRICE INDEX CONSUMER PRICES COUNTRY CHARACTERISTICS COUNTRY SIZE COUNTRY TARIFF DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DISTRIBUTION OF INCOME DISTRIBUTIONAL CONCERNS DISTRIBUTIONAL EFFECT DISTRIBUTIONAL EFFECTS DISTRIBUTIONAL IMPACT ECONOMIC GROWTH ECONOMIC INEQUALITY ECONOMIC OUTCOMES ECONOMIC REVIEW ECONOMIC STRUCTURE ECONOMIC STUDIES ECONOMIC THEORY ELASTICITY EMPIRICAL EVIDENCE EMPIRICAL MODELS EQUAL SHARES EQUATIONS EQUILIBRIUM EQUILIBRIUM PRICES EQUILIBRIUM RATE EXPECTED UTILITY EXPLAINING INEQUALITY EXTERNAL TRADE FACTOR ENDOWMENTS FACTOR PRICE FOREIGN TRADE FREE TRADE FUNCTIONAL FORM FUNCTIONAL FORMS GDP GDP PER CAPITA GINI COEFFICIENT GINI INDEX HOUSEHOLD INCOME IMPACT OF INEQUALITY IMPACT OF TRADE IMPORT PROTECTION IMPORT TARIFF IMPORT TARIFFS INCOME INCOME DISTRIBUTION INCOME DISTRIBUTIONS INCOME EFFECT INCOME INEQUALITY INCOME LEVEL INCOME LEVELS INCOME SCALE INCOME SHARE INCOME SHARES INCOMES INCREASING GROWTH INDUSTRIALIZATION INEQUALITY INEQUALITY AVERSION INEQUALITY INDEX INEQUALITY MEASURE INEQUALITY MEASURES INTERNATIONAL TRADE LABOR INCOME LORENZ CURVE The authors analyze general equilibrium relationships between trade policy and the household distribution of income, decomposing social welfare into real income level and variance components and emphasizing Gini and Atkinson indexes. They embed these inequality-adjusted social welfare functions in a general equilibrium structure mapping from tariff protection to household inequality. This yields predictions regarding the linkages between trade protection, country characteristics, and inequality within a broad general equilibrium framework. In addition, the authors can separate the efficiency and equity effects of tariffs on welfare. They then examine endogenous tariff formation when policymakers care about both equity and special interests. 2012-06-21T15:45:12Z 2012-06-21T15:45:12Z 2005-10 http://documents.worldbank.org/curated/en/2005/10/6312474/equity-welfare-setting-trade-policy-general-equilibrium http://hdl.handle.net/10986/8649 English Policy Research Working Paper; No. 3731 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	AGGREGATE CONSUMPTION ASSETS AVERAGE AVERAGE INCOME AVERAGE INCOMES AVERAGE TARIFFS BENCHMARK CAUSE INEQUALITY COMPETITIVE MARKETS CONSTANT RETURNS CONSTANT RETURNS TO SCALE CONSUMER PRICE INDEX CONSUMER PRICES COUNTRY CHARACTERISTICS COUNTRY SIZE COUNTRY TARIFF DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DISTRIBUTION OF INCOME DISTRIBUTIONAL CONCERNS DISTRIBUTIONAL EFFECT DISTRIBUTIONAL EFFECTS DISTRIBUTIONAL IMPACT ECONOMIC GROWTH ECONOMIC INEQUALITY ECONOMIC OUTCOMES ECONOMIC REVIEW ECONOMIC STRUCTURE ECONOMIC STUDIES ECONOMIC THEORY ELASTICITY EMPIRICAL EVIDENCE EMPIRICAL MODELS EQUAL SHARES EQUATIONS EQUILIBRIUM EQUILIBRIUM PRICES EQUILIBRIUM RATE EXPECTED UTILITY EXPLAINING INEQUALITY EXTERNAL TRADE FACTOR ENDOWMENTS FACTOR PRICE FOREIGN TRADE FREE TRADE FUNCTIONAL FORM FUNCTIONAL FORMS GDP GDP PER CAPITA GINI COEFFICIENT GINI INDEX HOUSEHOLD INCOME IMPACT OF INEQUALITY IMPACT OF TRADE IMPORT PROTECTION IMPORT TARIFF IMPORT TARIFFS INCOME INCOME DISTRIBUTION INCOME DISTRIBUTIONS INCOME EFFECT INCOME INEQUALITY INCOME LEVEL INCOME LEVELS INCOME SCALE INCOME SHARE INCOME SHARES INCOMES INCREASING GROWTH INDUSTRIALIZATION INEQUALITY INEQUALITY AVERSION INEQUALITY INDEX INEQUALITY MEASURE INEQUALITY MEASURES INTERNATIONAL TRADE LABOR INCOME LORENZ CURVE
spellingShingle	AGGREGATE CONSUMPTION ASSETS AVERAGE AVERAGE INCOME AVERAGE INCOMES AVERAGE TARIFFS BENCHMARK CAUSE INEQUALITY COMPETITIVE MARKETS CONSTANT RETURNS CONSTANT RETURNS TO SCALE CONSUMER PRICE INDEX CONSUMER PRICES COUNTRY CHARACTERISTICS COUNTRY SIZE COUNTRY TARIFF DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DISTRIBUTION OF INCOME DISTRIBUTIONAL CONCERNS DISTRIBUTIONAL EFFECT DISTRIBUTIONAL EFFECTS DISTRIBUTIONAL IMPACT ECONOMIC GROWTH ECONOMIC INEQUALITY ECONOMIC OUTCOMES ECONOMIC REVIEW ECONOMIC STRUCTURE ECONOMIC STUDIES ECONOMIC THEORY ELASTICITY EMPIRICAL EVIDENCE EMPIRICAL MODELS EQUAL SHARES EQUATIONS EQUILIBRIUM EQUILIBRIUM PRICES EQUILIBRIUM RATE EXPECTED UTILITY EXPLAINING INEQUALITY EXTERNAL TRADE FACTOR ENDOWMENTS FACTOR PRICE FOREIGN TRADE FREE TRADE FUNCTIONAL FORM FUNCTIONAL FORMS GDP GDP PER CAPITA GINI COEFFICIENT GINI INDEX HOUSEHOLD INCOME IMPACT OF INEQUALITY IMPACT OF TRADE IMPORT PROTECTION IMPORT TARIFF IMPORT TARIFFS INCOME INCOME DISTRIBUTION INCOME DISTRIBUTIONS INCOME EFFECT INCOME INEQUALITY INCOME LEVEL INCOME LEVELS INCOME SCALE INCOME SHARE INCOME SHARES INCOMES INCREASING GROWTH INDUSTRIALIZATION INEQUALITY INEQUALITY AVERSION INEQUALITY INDEX INEQUALITY MEASURE INEQUALITY MEASURES INTERNATIONAL TRADE LABOR INCOME LORENZ CURVE Francois, Joseph Rojas-Romagosa, Hugo Equity, Welfare, and the Setting of Trade Policy in General Equilibrium
relation	Policy Research Working Paper; No. 3731
description	The authors analyze general equilibrium relationships between trade policy and the household distribution of income, decomposing social welfare into real income level and variance components and emphasizing Gini and Atkinson indexes. They embed these inequality-adjusted social welfare functions in a general equilibrium structure mapping from tariff protection to household inequality. This yields predictions regarding the linkages between trade protection, country characteristics, and inequality within a broad general equilibrium framework. In addition, the authors can separate the efficiency and equity effects of tariffs on welfare. They then examine endogenous tariff formation when policymakers care about both equity and special interests.
format	Publications & Research :: Policy Research Working Paper
author	Francois, Joseph Rojas-Romagosa, Hugo
author_facet	Francois, Joseph Rojas-Romagosa, Hugo
author_sort	Francois, Joseph
title	Equity, Welfare, and the Setting of Trade Policy in General Equilibrium
title_short	Equity, Welfare, and the Setting of Trade Policy in General Equilibrium
title_full	Equity, Welfare, and the Setting of Trade Policy in General Equilibrium
title_fullStr	Equity, Welfare, and the Setting of Trade Policy in General Equilibrium
title_full_unstemmed	Equity, Welfare, and the Setting of Trade Policy in General Equilibrium
title_sort	equity, welfare, and the setting of trade policy in general equilibrium
publisher	World Bank, Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2005/10/6312474/equity-welfare-setting-trade-policy-general-equilibrium http://hdl.handle.net/10986/8649
_version_	1764407860565901312

Equity, Welfare, and the Setting of Trade Policy in General Equilibrium

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