Tariff Disadvantages (Arguments Against Protectionist Policies) - The problems with tariffs and the generic arguments against using protectionist policies
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I don't know if it comes under elasticities but the world firms could decide not to pass on the extra costs of the tariff and so it may have a limiting effect on domestic production.
If demand is price elastic, the incidence of the tariff falls more squarely on the importing producers. This effectively increases costs of production, and will reduce the supply, bidding the price up.
what if the producer doesn't pass all the tax to the consumer, if it's elastic demand, then how do you measure government revenue, because new price wouldn't be "intial price + tax "
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My problem was I spent too much time on macro and barely anything on micro. It's probably cuz I didn't watch EconplusDal for micro. Good luck tomorrow everyone!
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I don't know if it comes under elasticities but the world firms could decide not to pass on the extra costs of the tariff and so it may have a limiting effect on domestic production.
???
If demand is price elastic, the incidence of the tariff falls more squarely on the importing producers. This effectively increases costs of production, and will reduce the supply, bidding the price up.
what if the producer doesn't pass all the tax to the consumer, if it's elastic demand, then how do you measure government revenue, because new price wouldn't be "intial price + tax "
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do tariffs with inelastic demand/supply generate more revenue than tariffs with elastic demand/supply, like normal taxes?
yes!
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What about cost push inflation ? Would that count for a negative impact of tariff ( protectionism ) ?
Yes I believe so since imports become more expensive.
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