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Specific Factor Model Workshop

Specific Factor Model Workshop. Eco 324F. Steel wars. Use the specific Factor model to analyse why US steelworkers and owners lobbied for stiff tariffs on foreign steel.

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Specific Factor Model Workshop

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  1. Specific Factor Model Workshop Eco 324F

  2. Steel wars • Use the specific Factor model to analyse why US steelworkers and owners lobbied for stiff tariffs on foreign steel. Thousands of US steelworkers rallied near the White House yesterday, urging President George W Bush to impose stiff tariffs on foreign steel as Bush met with 19 congress members from steel-producing states to hear similar pleas. Bush said he was “not going to bow to international or any other pressure” said representative Robert Ehrlich. (Business Day, 2002).

  3. Welfare • Past exam question • International trade often has strong effects on the distribution of income within countries, so that it often produces losers as well as winners. • Draw upon the specific factors model to discuss the welfare changes arising from the proposed free trade area between South Africa and the rest of SADC. • Use the HO model to discuss the Long-Run impact on factor payments

  4. Welfare • A

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