Voluntary export restraints on automobiles: evaluating a trade policy

Article Abstract:

A voluntary export restraint was placed by the US on automobile exports from Japan in 1981. The impact of this policy on US consumer welfare, automobile companies' profits and forgone tariff revenue through 1990 is investigated. Results reveal that the policy affected prices, but not in some years most expected. The effect of this policy had it been instituted differently is also examined. Findings suggest that strategic trade policy could have enhanced the economic welfare if tariffs were implemented without setting off other market changes.

Motor vehicles and car bodies, Automobiles, Automobile Manufacturing, United States, Japan, International trade, International economic relations, Japanese foreign relations, United States foreign relations, Trade policy, Commercial policy, Export controls

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Some applications and limitations of recent advances in empirical industrial organization: merger analysis

Article Abstract:

Current empirical models of static equilibrium in differentiated products markets benefit from improvements in empirical methodology and data availability. When more realistic models are produced, simple theoretical models using symmetric linear demands do not capture certain results. Although dynamic equilibrium models need further advances in methodology, they show that static analysis of mergers produces inaccurate results.

Acquisitions and mergers

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Applications and limitations of some recent advances in empirical industrial organization: price indexes and the analysis of environmental change

Article Abstract:

The latest developments in empirical industrial organization are having certain impacts. The analysis of differentiated product markets and outcomes of dynamic-equilibrium models of firm behavior are changing the construction of price indexes and impacts of environmental regulation. Biases in standard price indexes can be reduced, and the impacts of environmental changes on firms can be measured.

Price indexes

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