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- Title
Reply to Dutton and Tower.
- Authors
Ray, Edward John
- Abstract
The paper by Dutton and Tower comes down on the side of supporting both of my original propositions. The purpose of the original piece was to redress the imbalance in attention given to technical substitutions possibilities relative to market conditions as a source of ambiguity in measuring the resource allocative effects of effective protection. The work by Dutton and Tower substantiates my original observations regarding the importance of market conditions and clarifies the economic interpretations of the conditions for a perverse tariff effect in the presence of wage distortions.
- Subjects
IMPERFECT competition; TARIFF; COMPETITION; LABOR market; COMMERCE; PRICES; PRODUCTION (Economic theory); RESOURCE allocation; MARKETS; ECONOMICS
- Publication
Review of Economic Studies, 1979, Vol 46, Issue 3, p565
- ISSN
0034-6527
- Publication type
Article
- DOI
10.2307/2297023