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"Quota restrictions on United States imports of apparel and textiles under the multifibre arrangement (MFA) ended abruptly in January 2005. This change in policy was large, predetermined, and fully anticipated, making it an ideal natural experiment for testing the theory of trade policy. We focus on simple and robust theory predictions about the effects of binding quotas, and also compute nonparametric estimates of the cost of the MFA. We find that prices of quota constrained categories from China fell by 38% in 2005, while prices in unconstrained categories from China and from other countries changed little. We also find substantial quality downgrading in imports from China in previously constrained categories, as predicted by theory. The annual cost of the MFA to U.S. consumers was about $100 per household"--National Bureau of Economic Research web site.
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Subjects
Commerce, Mathematical models, Textile industry, Trade regulationPlaces
China, United StatesShowing 2 featured editions. View all 2 editions?
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Testing the theory of trade policy: evidence from the abrupt end of the multifibre arrangement
2006, National Bureau of Economic Research
in English
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Testing the theory of trade policy: evidence from the abrupt end of the multifibre arrangement
2006, National Bureau of Economic Research
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in English
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Book Details
Edition Notes
Title from PDF file as viewed on 10/13/2006.
Includes bibliographical references.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.
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Feedback?December 3, 2010 | Edited by Open Library Bot | Added subjects from MARC records. |
December 10, 2009 | Created by WorkBot | add works page |