| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w18034 |
| 来源ID | Working Paper 18034 |
| Misallocation and Productivity Effects of the Smoot-Hawley Tariff | |
| Eric W. Bond; Mario J. Crucini; Tristan Potter; Joel Rodrigue | |
| 发表日期 | 2012-05-03 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | Using a newly created microeconomic archive of U.S. imports at the tariff-line level for 1930-33, we construct industry-level tariff wedges incorporating the input-output structure of U.S. economy and the heterogenous role of imports across sectors of the economy. We use these wedges to show that the average tariff rate of 46% in 1933 substantially understated the true impact of the Smoot-Hawley (SH) tariff structure, which we estimate to be equivalent to a uniform tariff rate of 70%. We use these wedges to calculate the impact of the Smoot Hawley tariffs on total factor productivity and welfare. In our benchmark parameterization, we find that tariff protection reduced TFP by 1.2% relative to free trade prior to the Smoot Hawley legislation. TFP fell by an additional 0.5% between 1930 and 1933 due to Smoot Hawley. We also conduct counterfactual policy exercises and examine the sensitivity of our results to changes in the elasticity of substitution and the import share. A doubling of the substitution elasticities yields a TFP decline of almost 5% relative to free trade, with an additional reduction due to SH of 0.4%. |
| 主题 | Macroeconomics ; Fiscal Policy ; International Economics ; Trade |
| URL | https://www.nber.org/papers/w18034 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575710 |
| 推荐引用方式 GB/T 7714 | Eric W. Bond,Mario J. Crucini,Tristan Potter,et al. Misallocation and Productivity Effects of the Smoot-Hawley Tariff. 2012. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w18034.pdf（329KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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