Campolmi, Alessia; Fadinger, Harald; Forlati, Chiara - Magyar Nemzeti Bank (MNB) - 2010
tariff (an export subsidy). However, when monopolistic distortions are corrected, terms of trade effects dominate the choice … of trade. In the cases of tariffs and export taxes results depend crucially on whether the free trade allocation is … – that production subsidies are always inefficiently low and driven by the incentives to improve the (welfare relevant) terms …