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dc.contributor.authorRaimondos-Møller, Pascalisen_US
dc.contributor.authorWoodland, Alan D.en_US
dc.date.accessioned2011-10-14en_US
dc.date.accessioned2011-12-01T13:05:05Z-
dc.date.available2011-12-01T13:05:05Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/52500-
dc.description.abstractWe examine in detail the circumstances under which reciprocity, as defined in Bagwell and Staiger (1999), leads to fixed world prices. We show that a change of tariffs satisfying reciprocity does not necessarily imply constant world prices in a world of many goods and countries. While it is possible to find tariff reforms that are consistent with both reciprocity and constant world prices, these reforms do not follow from the reciprocity condition, but rather from the requirement of unchanged world prices. We propose an alternative reciprocity rule that is guaranteed to raise the welfare of all countries, independently of whether world prices change and independently of the relative numbers of goods and countries.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper: Trade Policy 3607en_US
dc.subject.jelF02en_US
dc.subject.jelF13en_US
dc.subject.jelF15en_US
dc.subject.ddc330en_US
dc.subject.keywordGATTen_US
dc.subject.keywordreciprocityen_US
dc.subject.keywordfixed world pricesen_US
dc.titleReciprocity, world prices and welfareen_US
dc.typeWorking Paperen_US
dc.identifier.ppn669982717en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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