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【正文】 In the large country case, the tariff will lower the foreign export price. 187。 Tariffs may have different effects on different stages of production of a good. Basic Tariff Analysis 21 ? Effective rate of protection ? One must consider both the effects of tariffs on the final price of a good, and the effects of tariffs on the costs of inputs used in production. – The actual protection provided by a tariff will not equal the tariff rate if imported intermediate goods are used in the production of the protected good. – Example: A European airplane that sells for $50 million has cost $60 million to produce. Half of the purchase price of the aircraft represents the cost of ponents purchased from other countries. A subsidy of $10 million from the European government cuts the cost of the value added to purchasers of the airplane from $30 to $20 million. Thus, the effective rate of protection is (3020)/20 = 50%. Basic Tariff Analysis 22 Costs and Benefits of a Tariff ? A tariff raises the price of a good in the importing country and lowers it in the exporting country. ? As a result of these price changes: ? Consumers lose in the importing country and gain in the exporting country ? Producers gain in the importing country and lose in the exporting country ? Government imposing the tariff gains revenue ? To measure and pare these costs and benefits, we need to define consumer and producer surplus. 23 ? Consumer and Producer Surplus ? Consumer surplus – It measures the amount a consumer gains from a purchase by the difference between the price he actually pays and the price he would have been willing to pay. – It can be derived from the market demand curve. – Graphically, it is equal to the area under the demand curve and above the price. – Example: Suppose a person is willing to pay $20 per packet of pills, but the price is only $5. Then, the consumer surplus gained by the purchase of a packet of pills is $15. Costs and Benefits of a Tariff 24 Figure 86: Deriving Consumer Surplus from the Demand Curve Costs and Benefits of a Tariff 8 $12 9 $10 10 $9 11 D Price, P Quantity, Q 25 Figure 87: Geometry of Consumer Surplus Costs and Benefits of a Tariff a b P1 P2 D Price, P Quantity, Q Q2 Q1 26 ? Producer surplus – It measures the amount a producer gains from a sale by the difference between the price he actually receives and the price at which he would have been willing to sell. – It can be derived from the market supply curve. – Graphically, it is equal to the area above the supply curve and below the price. – Example: A producer willing to sell a good for $2 but receiving a price of $5 gains a producer surplus of $3. Costs and Benefits of a Tariff 27 Figure 88: Geometry of Producer Surplus Costs and Benefits of a Tariff d c P2 P1 S Price, P Quantity, Q Q2 Q1 28 Costs and Benefits of a Tariff ? Measuring the Cost and Benefits ? Is it possible to add consumer and producer surplus? – We can (algebraically) add consumer and producer surplus because any change in price affects each individual in two ways: – As a consumer – As a worker – We assume that at the margin a dollar’s worth of gain or loss to each group is of the same social worth. 29 Figure 89: Costs and Benefits of a Tariff for the Importing Country Costs and Benefits of a Tariff PT PW P*T b c d e D a = consumer loss (a + b + c + d) = producer gain (a) = government revenue gain (c + e) QT D2 S2 S S1 D1 Price, P Quantity, Q 30 ? The areas of the two triangles b and d measure the loss to the nation as a whole (efficiency loss) and the area of the rectangle e measures an offsetting gain (terms of trade gain). – The efficiency loss arises because a tariff distorts incentives to consume and produce. – P
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