List of Contributors and Indices

This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research

Volume Title: The Structure and Evolution of Recent U.S. Trade Policy

Volume Author/Editor: Robert E. Baldwin and Anne O. Krueger, eds.

Volume Publisher: University of Chicago Press

Volume ISBN: 0-226-03604-9

Volume URL: http://www.nber.org/books/bald84-1

Publication Date: 1984

Chapter Title: List of Contributors and Indices

Chapter Author: Robert E. Baldwin, Anne O. Krueger

Chapter URL: http://www.nber.org/chapters/c5843

Chapter pages in book: (p. 425 - 440) List of Contributors

C. Michael Aho Alan V. Deardorff Office of International Economic Department of Economics Affairs University of Michigan Bureau of International Labor Ann Arbor, Michigan 48109 Affairs U.S. Department of Labor Jonathan Eaton Washington, D.C. 20210 Department of Economics Rouss Hall Robert E. Baldwin University of Virginia Department of Economics Charlottesville, Virginia 22901 University of Wisconsin Madison, Wisconsin 53706 Zvi Eckstein Economic Growth Center Thomas 0. Bayard Yale University The Ford Foundation P.O. Box 1987, Yale Station 320 East 43rd Street 27 Hillhouse Avenue New York, N.Y. 10017 New Haven, Connecticut 06520

William R. Cline Barry J. Eichengreen Senior Fellow Department of Economics Institute for International Economics Littauer Center 11 Dupont Circle, NW Harvard University Washington, D.C. 20036 Cambridge, Massachusetts 02138

Richard N. Cooper Wilfred J. Ethier Department of Economics University of Pennsylvania Littauer Center Department of Economics Harvard University 3718 Locust Walk CR Cambridge, Massachusetts 02138 Philadelphia, Pennsylvania 19104

425 426 List of Contributors

Robert C. Feenstra Anne 0. Krueger Department of Economics The World Bank Columbia University 1818 H Street, NW New York. New York 10027 Washington, D.C. 20433

Heywood Fleisig Lars Lundberg The World Bank Department of Forest Economics 1818 H Street, NW SLU Washington, D.C. 20433 S-90183 Umea Sweden Harry Grubert Office of International Tax Affairs Stephen P. Magee U.S. Treasury Department Department of Finance Washington, D.C. 20220 School of Business University of Texas Catharine Hill Austin, Texas 78712 The World Bank 1818 H Street, NW Rachel McCulloch Washington, D.C. 20433 Department of Economics University of Wisconsin Gary N. Horlick Madison, Wisconsin 53706 O’Melveny and Myers 1800 M Street, NW Tracy Murray Washington, D.C. 20036 Department of Economics University of Arkansas Helen Hughes Fayetteville, Arkansas 72701 Development Studies Center The Research School of Pacific John Mutti Studies Department of Economics Australian National University University of Wyoming Canberra, Australia Laramie, Wyoming 82701

Ronald W. Jones Joseph Pelzman Department of Economics Department of Economics University of Rochester George Washington University Yochester. New York 14627 Washington, D.C. 20052

Irving B. Kravis Alfred Reifman University of Pennsylvania Senior Specialist in International Department of Economics Economics 3718 Locust Walk CR Congressional Research Service Philadelphia, Pennsylvania 19104 Library of Congress Washington, D.C. 20540 Mordechai E. Kreinin Department of Economics J. David Richardson Marshall Hall Department of Economics Michigan State University University of Wisconsin East Lansing, Michigan 48824 Madison, Wisconsin 53706 427 List of Contributors

Andre Sapir John Whalley CEME CP 139 Department of Economics Universite Libre de Bruxelles Social Science Center SO, Avenue Roosevelt University of Western Ontario 1050 Bruxelles London N6A 5C2 Belgium Canada

Robert M. Stern Martin Wolf Department of Economics Director of Studies University of Michigan Trade Policy Research Centre Ann Arbor, Michigan 48109 1, Gough Square Fleet Street David G. Tarr London, EC4A 3DE Bureau of Economics England Federal Trade Commission Washington, D.C. 20580

Hans van der Ven Department of International Affairs and Government Relations Hoogovens Groep B.V. Beverwijk The Netherlands This Page Intentionally Left Blank Author Index

Aho, C. Michael, 155, 160, 162, 177 Deardorff, A. V., 361, 362, 364, 365, 368, Aiyagari, S. R., 268 369, 387 Alikhani, Iradj, 393 Donges, Juergen, 399 Anderson, Kym, 398 Anjaria, S. J., 398 Eckstein, Z., 242, 246 Armington, P., 292 Ehrenberg, R., 177 Eichenbaum, M., 242, 246 Baldwin, Robert E., 8, 15, 35, 162, 202, Eichengreen, Barry, 83 209, 280, 301 Epple, Dennis, 268 Bale, Malcolm, 167 Esposito, Frances Ferguson, 127 Ballard, C., 293, 302 Esposito, Louis, 127 Batra, R., 281 Ethier, Wilfred, 68, 82, 161 Bayard, T., 162, 177, 209 Bergsten, C. F., 154, 178 Falvey, R., 39, 60 Blackhurst, R., 162 Findlay, R., 268 Bohi, R. Douglas, 238 Finger, J. M., 21, 398 Bowen, H., 291, 292 Fisher, Franklin, 143 Branson, W., 280, 291 Folie, G. M., 268 Brennan, J. Michael, 246 Frank, C. R., 160 Fullerton, D., 293, 302 Calvo, G., 268 Casing, J., 158 Gard, Linda M., 398 Caves, R., 127, 281 Garnaut, Ross, 398 Classen, K., 177 Gilbert, R. J., 268 Cline, W. R., 154 Glatt, Sandra, 238, 239, 240 Collins, Norman, 128, 129 Glyde, G., 169, 170 Corden, W. M., 363, 364, 366 Goldfarb, R. S., 166 Cordes, J. J., 166 Goldstein, J. L., 22 Corson, W. W., 154,160,164,169,170,193 Gomez-Ibanez, Jose A,, 35 Crandall, Robert W., 91 Goulder, L., 281, 301 Grant, J., 291 Dale, Richard, 104 Griliches, Zvi, 36, 46 Davies, S. W., 68 Grilli, Enzo, 398

429 430 Author Index

Grossman, G., 158 Nelson, D. R., 21, 398 Neumann, G., 169, 170 Haberler, Gottfried, 68 Newbery, D. M. G., 243, 266, 268 Hall, H. K., 21, 398 Nichols, Albert L., 243, 273 Hall, Robert E., 284 Nordhaus, W. D., 268 Hamermesh, D., 291 Hamilton, Carl, 400 Oaxaca, R., 177 Hansen, Lars P., 268 Ochs, J., 158 Harberger, Arnold C., 90 Olson, M., 11, 23 Havrylyshyn, Oh, 393 Orr, J., 155, 160, 162 Helpman, Elhanan, 44 Horst, T., 281, 296, 301 Pagoulatos, Emilio, 127 Parson, D. O., 158 Porter, M. E., 127 Intrilligator, Michael, 143 Prescott, E. C., 269 Isard, Peter, 392 Preston, Lee, 128, 129 Pugel, Thomas, 131, 143, 144 Jorgenson, Dale W., 284 Ramachandran, R., 281 Kamahito, Kiyoshi, 397 Richardson, D., 301 Keesing, Donald B., 145, 394 Richardson, J. D., 160, 167, 177, 185 Khalizadeh-Shirazi, J., 127 Riedel, James, 398 Kindleberger, C. P., 22, 52 Riesman, R., 268 Kirkland, L., 178 Roberds, Will, 268 Krasner, S. D., 24, 27 Rodriguez, C., 39, 60 Kravis, I. B., 92 Russell, Milton, 238 Krugman, Paul R., 44 Kwoka, John E., Jr., 128 Samuelson, P. A., 265 Kydland, F. E., 251, 269 Santoni, Gary J., 39 Selten, R., 251 Shapiro, C., 158 Lancaster, Kelvin J., 44 Shepherd, Geoffrey, 392 Lapan, 158 H., Shoven, J., 281, 293, 301, 302 Learner, E. E., 203 Sorensen, Robert, 127 Lindert, Peter H., 52 Stegemann, Klaus, 83 Lipsey, R. E., 92 Stern, R.M., 361, 362, 364, 365, 368, 369, Lipson, C., 22 387 Lloyd, Peter J., 104 Stone, J. A., 94 Luey, Paul, 393 Takacs, Wendy E., 92 McCarthy, J., 169, 170 Tarr, David G., 91, 92 McGuinness, A. J., 68 Teisberg, T. J., 268 Magee, S. P., 158, 179 Toder, Eric J., 54 Mann, H. Michael, 128 Tolley, G. S., 243, 266, 268 Marian, N., 162 Triplett, Jack E., 46 Marvel, Howard, 128, 130, 144 Tumlir, J., 162 Maskin, E., 243, 266 Meyer, F. V., 11 Ulph, A. M., 268 Monoyios, N., 280, 291 Ulph, D. T., 268 Moore, M., 209 Utgoff, K. C., 177 Morawetz, David, 393 Murray, T., 202, 209 Van Cott, T. Norman, 39 Mutti, J., 301 Viner, Jacob, 68 431 Author Index

Weston, J. Fred, 143 Wright, B., 243, 266, 267, 268 Whalley, J., 281, 293, 301, 302 White, Lawrence J., 130 Yasugi, Yoneyoshi, 398 Whitman, M., 22 Yonezawa, Yoshie, 400 Williams, J., 243, 266 Wilman, J. D., 243, 266 Zeckhauser, Richard J., 243, 273 Wolf, M., 145, 162, 393, 394 ~ ~~

Subject Index

Accelerated Cost Recovery System, 285 Border tax adjustments, 302-3 Accelerated depreciation, 284-85 Brussels Tariff Nomenclature, 368 ACP, 394 “Burial insurance,” 178 Administration Textile Program, 115 Burke-Hartke bill of 1969, 390 AFL-CIO, 13 Business ethic, 28 African, Caribbean and Pacific Group of Business sector, attitudes of toward protec- States, 394 tionism, 7 Agricultural exports, surplus of, 14 Agriculture, increase in value added, 376 Canada, Export Development Corpora- American Selling Price, 19 tion, 352, 353 Antidumping, welfare effects of, 89 Capital: homogeneous, 285439,295-97; in- Antidumping Act of 1921, 68, 69, 71 dustry-specific, 289-90, 297-98 Antidumping code, 19 Capital flows, and Eximbank, 304 Antidumping legislation, 17 Capital market imperfections, 334-35; gov- Antidumping policies, evolution of, 69-72 ernment policy toward, 158-59 Apparel, from developing countries, 143 Capital Markets System, 352 Arrangement on Guidelines for Officially Capital stock: international flow of, 292; Supported Export Credit, 340-43 U.S. share of, 292 Arrangement Regarding International Change in per unit value added, 369,376-82 Trade in Textiles, 113-14 Chemicals, 402; increase in value added, Australia, import penetration increase, 406 376 Automobile industry, 21 China, 413 Automobiles: import restrictions, 396-97; Clothing, 402; restrictions on imports, Japanese, 21, 35-56; prices of, 4650; 392-93 U.S., 50-53 Coffee, 403 Cold War, 9, 22 Balanced budget, 302 Competitiveness, international, 222 Balance of payments, safeguarding, 11 Congress: influence on International Trade Belgium: export subsidies, 304; growth rate Commission, 16; and presidential tariff in market penetration, 406 actions, 15-18; Senate Finance commit- Berne Union, 340, 352 tee, 16-17; trade agreement regula- Bilateral monopoly, as justification for U.S. tion, 20 Strategic Petroleum Reserve, 249-50 Consensus (OECD agreement), 340

432 433 Subject Index

Corporate taxes, in the United States, 299 tions, 384-85; Domestic International Cotton: Japanese exports, 13; Long-Term Sales Corporations, 285-98; general Arrangement on Cotton Textiles, 113; equilibrium, 280, 30614; Michigan Short-Term Cotton Textile Arrange- Model of World Production and Trade, ment, 113 361-63 Countervailing duty legislation, 17 Economic Recovery Tax Act of 1981,282, Country system equations, 384-85 299 Creditor Reporting System, 352 Economic welfare, Tokyo Round effect on, Cross-country model, 20%13 368 Cross-product model, 213-15 EEC. See European Economic Community Customs valuation systems, 19 Effective protection, theory of, 363 Cutlery, import restrictions, 396 Electricity, decrease in value added, 376 Electronic products, 402; import restrictions, 395-96 Datsun 810 Maxima, 45 Embargoes, petroleum reserve vulnerabil- Debtor Reporting System, 352 ity to, 268 Democratic party: position on tariffs, 7-8; Employment: effects of Domestic Interna- position on trade liberalization, 7 tional Sales Corporations on, 319; effects Department of International Trade and In- of export credit programs on, 333-34; dustry, 29 effects of voluntary export restraints on, Developing country exports: apparel 145; 38-39, 55-56; in Michigan model, 362; cutlery, 395; electronic products, 395-96; Tokyo Round effect on, 368 hand tools, 395; musical instruments, Energy Policy and Conservation Act of 396; sporting goods, 396; toys, 396 1975, 239 Development Assistance Committee, 351 Energy Security Act, 239 Dillon Round, 23 Energy supplies, increase of, 239 DISC. See Domestic International Sales Entry barriers, in textile industry, 143 Corporations Equilibrium prices, in Michigan model, 362 Dislocation programs, 154-57 Escape clause, 9-10, 12, 15, 16 Displaced workers, 154-57 Europe, steel producers in, 14, 21 Domestic International Sales Corporations, European Commission, 340 18; economic incentives created by, European Community, protection mea- 283-85; effect on employment, 319; sures, 372t, 373t effects on export costs, 280; effects on European Court of Justice, 340 export prices, 293; effects on internation- European Economic Community (EEC), al capital allocation, 281; enacting legislation, 279; history of, 282-83; model, 305- 196, 340; GATT complaint re Domestic International Sales Corporations, 304 18; provisions of, 279; relationship to Exchange rates: effects of export credit U.S. exports, 317-18 programs on, 336-37; effects on volun- Domestic prices, Tokyo Round effect on, tary export restraints, 64; exogeneity of, 368 365-66; flexible, 362; Tokyo Round Dumping: connotation of. 68; definitions effect on, 368 of, 21, 82; models of, 82-91; ratios, 92- Exchange rate system, flexible, 14 94; reverse, 68; and trade adjustment assistance, 161 Eximbank, 18, 277, 303-4, 320, 324-25, 334, 352, 353 Export costs, Domestic International Sales Economic aid, to foreign countries, 338 Corporation effects on, 280 Economic change, government interven- Export Credit Group, 340, 344, 351 tion in, 154-62 Export credit programs: benefits, 329-40; Economic growth, spread of, 419 Canada, 321; and capital market im- Economic incentives, created by Domestic perfections, 334-35; cost of, 32940,349- International Sales Corporations, 283-85 51; data on, 351-52; differentiated rate Economic models: country system equa- system, 341, 342; effects on exchange 434 Subject Index

Export credit programs (cont.) (GAIT), 1, 10,22,367; Domestic Inter- rate, 336-37; efficiency losses, 343-49; national Trade Corporations as violation employment effects, 333-34; foreign, of, 279; EEC complaint, 304; nontariff 335-36; foreign policy role of, 337-38; trade barrier codes, 18-19 France, 321; Germany, 321; income re- General equilibrium models, 280, 306-14 distribution, 343-49; international con- Generalized system of preferences, 196; trols on, 34C43; Italy, 321; Japan, 321; cross-country model, 208-13; cross- national security role of, 337-38; port- product model, 213-15; effect on U.S. folio effects, 332; subsidy measurement, economy, 205-17; graduation criteria, 322-29; subsidy suppliers, 398-99; terms 235; ideal, 233-34; modifications of, 232; of trade effects, 332-33; uniform moving provisions of, 198-201 matrix, 341; United Kingdom, 321; Gentlemen’s Agreement, 340 United States, 321. See also Subsidies Germany, state subsidies in, 399 Export Development Corporation, 352,353 Government intervention, arguments for, Export-Import Bank of the United States. 157-65 See Eximbank Gross National Product, world growth of, Export prices, effect of Domestic Interna- 389 tional Sales Corporation on, 293 Group of 77, 166 Export promotion, nontariff measures, 3 Group on Export Credits and Credit Export restraints, 147-48 Guarantees, 340, 344, 351 Exports, benefits of increase in, 337 Export subsidies, 304 Hand tools, import restrictions, 396 Hawley-Smoot Tariff, 28, 334 Fair trade legislation, 20 Herfindahl index, 86-87, 94 Farm sector, attitudes toward protection- Hong Kong: clothing industry, 393; diver- ism, 7 sification in, 412; electronic goods, 396 Federal Energy Administration, 239 Federal Republic of Germany, state sub- IMF, 1 sidies, 399 Import competition, nontariff controls, 3 Feedback solutions oil policies, 2%-51 Import restrictions: automobiles, 39697; Finance, decrease in value added, 376 clothing, 392-94; cutlery, 396; electronic Flexible exchange rates, in Michigan products, 395-96; footwear, 395; hand modeI, 362 tools, 396; musical instruments, 396; Footware industry, 21, 395 sporting goods, 396; steel, 396-97; tex- Ford Motor Company, 37 tiles, 14, 392-94; toys, 396 Foreign aid, 338 Imports, taxes on, 303 Foreign competition: apparel 145; cutlery, Import-sensitive industries, 160 395; electronic products, 395-96; hand Import volumes, and protective efforts, tools, 395; musical instruments, 396; 418-23 sporting goods, 396; textile industry, 130; India, clothing industry, 393 toys, 396 Industrial Petroleum Reserves, 239 Foreign currencies, export credits in, 326 Insurance, decrease in value added, 376 Foreign International Sales Corporations, International capital allocation, effects of 320 Domestic International Sales Corpora- Foreign policy, export credit programs role tion on, 281 in, 337-38 International Development Association Foreign subsidies, Eximbank as threat (IDA), 352 against, 304 International Energy Agency, 239 France: export subsidies, 304; import International Monetary Fund (IMF), 1 penetration increase, 406 International Trade Commission, 9-10, 14, 15, 16, 398; Congressional influence Gas, decrease in value added, 376 on, 16 General Agreement on Tariffs and Trade International Trade Organization (ITO), 1 435 Subject Index

International trading regime: establishment Michigan Model of World Production and of, 7-12; support for, 10-15 Trade, 361-63 International Union of Credit and Invest- Minerals, nonmetallic, 402; decrease in ment Insurers, 340, 352 value added, 376 Investment tax credits, 284 Mining, increase in value added, 376 Italy: clothing industry, 393 Ministry of International Trade and Indus- ITO, 1 try (Japan), 29, 37, 73 Models. See Economic models Japan: automobile exports, 21,35-56; auto- Most-favored nation principle, 11, 195 mobile prices, 36, 46-50; cotton textile Multifiber Arrangement, 111-12, 11S17, exports, 13; import share, 403; protec- 390, 393; effectiveness as protective in- tionism in, 398; protection measures, strument, 134; implications of, 147-49 3741, 37%; steel producers, 14. See also Multilateral Trade Negotiations, 115, 1.53; Ministry of International Trade and In- Dillon Round, 23; Kennedy Round, 13, dustry; specific model names 19,22,23,153,160,177,195,367; Tokyo Job loyalty, 177 Round, 22, 23, 153, 177, 178, 367-68, Johnson Debt Default Act, 334 378-80, 382-83, 389 Kennedy Round, 13, 19, 22, 23, 153, 177, Musical instruments, import restrictions, 195, 367 396 Korea, 412; electronic goods, 396 National security, export credit programs Labor: attitude toward protectionism, 7, role in, 337-38 13; effects of Domestic International NATO, 334 Sales Corporations on, 282; position on Naval Petroleum Reserves, 238 tariffs, 13 Netherlands: export subsidies, 304; import Labor, unskilled: capital requirements, penetration increase, 406 291; effects of Domestic International Nominal tariff rate, 131, 132 Sales Corporation on, 319; wages of, 296, Nontariff trade barriers, 18-19, 390-91 319 North Atlantic Treaty Organization Labor demand functions, in Michigan (NATO), 334 model, 362 Labor immobility, 158 OECD. See Organization for Economic Labor-intensive exports, 413 Cooperation and Development Labor market congestion, 157-58 Oil, history of government storage, 238 Leather products, 402; import restrictions, Oil inventories, as substitute for tariffs, 243, 395; increase in value added, 376 269, 275 LIBOR, 335 Oil policies, game models, 250-65 Loan insurance, 321-22 Oil prices, increase in, 421 Loans: to exporters, 321-22; for training Oil quotas, 13 and education, 159 Oil supply, uncertainty of, 24749 London Interbank Offer Rate, 335 Older workers, in import-sensitive indus- Long-Term Arrangement on Cotton Tex- tries, 160 tiles. 113 OPEC. See Organization of Petroleum Ex- porting Countries Machinery, 402 Open loop oil policies, 250 Malaysia, 413 Orderly Marketing Agreements, 127. See Man-made fibers, 117, 12425 also Multifiber Arrangement Manufactures, miscellaneous, decrease in Organization for Economic Cooperation value added, 376 and Development (OECD), 126-27: Ex- Market penetration trends, 401-9 port Credit Group, 340,344,351; Group Mathematica Policy Research, 155 on Export Credits and Credit Guaran- Meats, quotas on, 14 tees, 340, 344, 351; Trade Committee, Metal products, 401 340,344, 351 436 Subject Index

Organization of Petroleum Exporting Steel industry, subsidies, 106 Countries (OPEC), relationships with Steel Task Force, 75 United States, 250 Steel Tripartite Committee, 75 Strategic Petroleum Reserve: background Paper, 402 of, 238-41; justification for, 249-50; Peril point provision, 9-10, 12, 15 monopsony power and, 266-67; vulner- Phillipines, 413 ability to embargoes, 268; welfare costs Portfolio effects, of export credit programs, of, 273 332 Subsidies, 320; distribution between bor- Price controls, and government oil inven- rowers and exporters, 330-31; for export tories, 267-68 credit programs, 304, 322-29; interest Price discrimination, 84 rates, 323-28; suppliers of, 398-99; total Prices, Tokyo Round effect on, 368 amount of, 327-29 Production workers vs. nonproduction Suppliers, impact of protection on, 409, workers, 291 412-13 Project Independence, 238 Supply and demand functions, in Michigan Protection: cost of, 422, impact on sup- model, 362 pliers, 409,412-13; and import volumes, Sweden, growth rate in market penetration, 418-23; structure of pre- and post-Tokyo 406 round, 382-83 Protectionism, 12; attitudes of labor, 7, 13; Taiwan, 412; electronic goods, 396 bureaucratic growth and, 397; effects of, Tariff Act of 1930, 17, 69 160; future pressures for, 162; pressures Tariff Commission, 70 for, 390; trends in, 5 Tarriff preferences, 203 Protection measures: European Commu- Tariff reduction, 367, 376-77; reasons for, nity, 372t, 373t; Japan, 374t, 37%; United 378-80; in Tokyo Round, 378-80 States, 370t, 371t Tarriffs: Democratic party position on, 7-8; Protestant work ethic, 28 foreign, 366; Hawley-Smoot tariff, 8, 334; labor, position on, 13; in 1980s vs. Quarrying, increase in value added, 376 1930s, 5; nominal rates, 131, 132; oil inventories as substitute for, 243,269,275; Rate system, differentiated, 341, 342 Republican position on, 9-10; Tariff Act Real Estate, decrease in value added, 376 of 1930, 17, 69 Reciprocity, 29 Tax deferral, under Domestic International Regional Petroleum Reserves, 239 Sales Corporations, 282 Regression models, cross section, 203 Taxes (corporate), in the U.S., 299 Republican party: position on tariffs, 9-10; Tax exemption, 294 . position on trade liberalization, 5,7; posi- Tax incentives, and Domestic International tion on trade policy, 12-13 Sales Corporations, 284-85 Revenue Act of 1971,282 Tax policies, alternative, 302 Risk, as argument for government interven- Tax rebates, 303 tion, 158 Technology, effects on textile industry, 117 Television industry, 21 Senate Finance Committee, 16-17 Terms of trade effects, of export credit Short-Term Cotton Textile Arrangement, programs, 332 113 Textile industry: capital intensity, 129; com- Singapore, 412 petitive performance, 128; domestic de- Smoot-Hawley Tariff, 8, 334 mand growth, 129; economies of scale, Sporting goods, import restrictions, 396 130; entry barriers, 143; export restraints, Steel: European producers, 14; export re- 147-48; foreign competition, 130; geo- straints, 14; fabricated, 81; import restric- graphic dispersion, 129; industry model, tions, 396-97; Japanese producers, 14; 142; restructuring of, 117, 124-27; seller trigger price mechanism, 67-69 concentration, 129-30 437 Subject Index

Textiles, 402; import quotas for, 14; restric- Transport equipment, increase in value tions on imports, 392-94. See also Man- added, 376 made fibers Treaty of Rome, 31 Textile Surveillance Body, 114 Trigger Price Mechanism, 21, 67, 397; cal- Textile trade, international regulation of, culating, 7S78; components of, 73; eco- 112-17 nomic implications of, 78-82; exchange Thailand, 413 rate conversion factors, 75 Tokyo Round, 22, 23, 153, 177, 178, 389; comparision of protection before and af- US. International Trade Commission, 37, ter, 382-83; concluded, 367; effects of, 235 368; tariff reduction in, 378-80 U.S. Steel Corporation, 72 Toyota Corona, 45 Unemployment: effects of export credit Toyota Cressida, 45 programs on, 333; social costs of, 167; Toyota Supra, 45 and wage replacement programs, 171 Toys, import restrictions, 396 Unfair trade practices, 20 Trade, Tokyo Round effect on, 368 Uniform moving matrix, 341 Trade Act of 1962, 166 United Kingdom, growth rate in market Trade Act of 1974,14,15,17,19,20,21,68, penetration, 406 70, 105, 153, 154, 166, 178, 192, 198; United Nations Conference on Trade and product eligibility, 199 Development, 66, 196 Trade adjustment assistance, 13, 153, 156; United States: balanced budget, 302; capi- demographic characteristics of reci- tal stock share, 292; corporate taxes in, pients, 170-73; effect on dumping, 161; 299; economic effects of generalized sys- effect on legislation, 192; goals of, 163- tem of preferences, 205-17; energy leg- 65; occupational characteristics of recip- islation, 239; export incentive programs, ients, 170-73; payments, 168; potential 303-4; export share of manufactures, 8; benefits of, 165-68; potential costs of, export subsidies, 304; foreign policy role 168-84; unemployment, 171; viewed as of export credit programs, 337-38; im- “burial insurance,” 178; wage replace- port penetration increase, 406; and Inter- ment systems, 171 national Trade Commission, 398; mer- Trade agreements, Congressional limita- chandise export share, 22; monopsony tions on presidential actions, 20 power and government oil inventories, Trade Agreements Act of 1934, 8 266-67; national security role of export Trade Agreements Act of 1979, 17, 68,71, credit programs, 337-38; petroleum re- 105, 178 serves history, 238-41; presidential in- Trade Agreements Extension Act of fluence on trade policy, 8; presidential 1955, 16 restraints, 15-18; Project Independence, Trade Committee (OECD), 340, 344, 351 238; protection measures, 370t, 371t; re- Trade creation, 201-2, 222 lationship with OPEC, 250; tax system, Trade disputes, 24 284-85; Treasury Department, 398. See Trade diversion, 201-2, 222 also Congress; Eximbank; Strategic Pe- Traded vs. nontraded goods, 366-67 troleum Reserves Trade Expansion Act of 1962, 13, 15, 153, United States Trade Representative, 15 156, 192 Trade flows, 203 Value added tax, 303 Trade liberalization: as a foreign policy in- Venice Summit, 342 strument, 8, 12; Democratic party posi- Voluntary export restraints, 37,390; admin- tion on, 7; Republican party position on, istration of, 37; effectiveness of, 62-63; 5, 7; social cost of, 167 employment impact, 38-39, 55-56 Trade policies, lack of research on, 1; Re- publican party position on, 12-13; U.S. Wage and price rigidities, 157 postwar shifts in, 7 Wage bargains, as part of trade adjustment Trade practices, unfair, 20 assistance, 168 438 Subject Index

Wage replacement, effect on unemploy- Wood products, decrease in value added, ment duration, 171 376 Wages, effect of Domestic Sales Corpora- Workers, production vs. nonproduction, tion on, 296; increases in Korea, 412 291 Water, decrease in value added, 376 World Bank, 1, 352 Welfare, and antidumping actions, 89 World economy, changes in, 419 Women, in import-sensitive industries, 160 This Page Intentionally Left Blank