| 单词 | optimum tariff |
| 释义 | optimum tariff A tariff which maximizes a country's welfare, trading off improvement in the terms of trade against restriction of trade quantities. For a small economy which cannot affect world prices in the markets in which it trades, the optimum tariff is zero. For a country with monopoly power in its export markets or monopsony power in import markets, the optimum tariff is positive, but not so large as to eliminate trade entirely. Calculation of an optimum tariff structure in a multi-good economy would require information on cross-elasticities of supply and demand in world markets which no country possesses. The optimum tariff model also assumes no retaliation by trading partners. The main lesson of the model is to point to the advantages of multinational agreement to refrain from attempting to use tariffs to improve the terms of trade. |
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