TY - BOOK ID - 84542003 TI - Union Behavior, Industry Rents, and Optimal Policies PY - 1996 SN - 146232567X 1455278807 1282061445 145522622X 9786613799234 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Exports and Imports KW - Labor KW - Macroeconomics KW - Production and Operations Management KW - Trade Policy KW - International Trade Organizations KW - Empirical Studies of Trade KW - Wages, Compensation, and Labor Costs: General KW - Labor Economics: General KW - Macroeconomics: Production KW - Labour KW - income economics KW - International economics KW - Wages KW - Trade policy KW - Capacity utilization KW - Labor share KW - International trade KW - Production KW - Labor economics KW - Commercial policy KW - Industrial capacity KW - United States KW - Income economics UR - https://www.unicat.be/uniCat?func=search&query=sysid:84542003 AB - This paper examines the supposed welfare gains from strategic trade and industrial policies in the U.S. steel industry. Strategic policies to capture labor rents lead to an endogenous response which greatly diminishes their importance. On the other hand, reducing domestic labor market distortions results in welfare gains nearly as large as those from optimal trade and industrial policies. The paper concludes that the focus on labor rents as the subject of U.S. trade and industrial policy is overstated, at least in manufacturing industries such as integrated steel. ER -