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Year: 1997 Publisher: London
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ISBN: 075300075X Year: 1997 Publisher: London
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Year: 2000 Publisher: London Centre for Economic Performance
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ISBN: 0753012456 Year: 1998 Publisher: London LSE Centre for Economic Performance
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Year: 2013 Publisher: Cambridge, Mass. National Bureau of Economic Research
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What kind of tariff reform is likely to raise welfare in situations where tariff revenue is important? Uncertainty about specification and risk from imprecise parameter estimates of any particular specification reduce the credibility of simulation estimates. A promising alternative is to develop rules which are robust with respect to such uncertainty. We present sufficient conditions for a class of linear rules that guarantee welfare-improving tariff reform. The rules span cones of welfare-improving tariff reforms consisting of convex combinations of (i) trade-weighted-average-tariff-preserving dispersion cuts; and (ii) uniform tariff cuts that preserve domestic relative prices among tariff-ridden goods.
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ISBN: 075301243X Year: 1998 Publisher: London LSE Centre for Economic Performance
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Year: 2012 Publisher: Cambridge, Mass. National Bureau of Economic Research
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The latest World Bank estimates of real GDP per capita for China are significantly lower than previous ones. We review possible sources of this puzzle and conclude that it reflects a combination of factors, including substitution bias in consumption, reliance on urban prices which we estimate are higher than rural ones, and the use of an expenditure-weighted rather than an output-weighted measure of GDP. Taking all these together, we estimate that real per-capita GDP in China was 50% higher relative to the U.S. in 2005 than the World Bank estimates.
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