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Trade Policy and Economic Welfare$
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W. Max. Corden

Print publication date: 1997

Print ISBN-13: 9780198775348

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198775342.001.0001

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The Four Assumptions of the Theory of Domestic Divergences

The Four Assumptions of the Theory of Domestic Divergences

(p.33) 3 The Four Assumptions of the Theory of Domestic Divergences
Trade Policy and Economic Welfare

W. Max Corden (Contributor Webpage)

Oxford University Press

Reviews the four assumptions of the simple theory of domestic divergences (distortions), namely that subsidies can be financed by non‐distorting taxes, that taxation involves no collection costs, that there are no costs of subsidy disbursement costs, and that income distribution effects of various policies can be neglected. It is found that the central arguments of the simple theory stand when these assumptions are removed.

Keywords:   collection costs, domestic distortions, income distribution, subsidies, taxation

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