A Theoretical Analysis of Smuggling: A Reply
Jagdish N. Bhagwati, Bent Hansen; A Theoretical Analysis of Smuggling: A Reply*, The Quarterly Journal of Economics, Volume 89, Issue 4, 1 November 1975, P
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Dual Markets, Rationing, and Queues
Jagdish N. Bhagwati, Balbir S. Sihag; Dual Markets, Rationing, and Queues*, The Quarterly Journal of Economics, Volume 95, Issue 4, 1 December 1980, Pages 775–7
Domestic Resource Costs, Effective Rates of Protection, and Project in Tariff-Distorted Economies
Jagdish N. Bhagwati, T. N. Srinivasan; Domestic Resource Costs, Effective Rates of Protection, and Project Analysis in Tariff-Distorted Economies*, The Quarterl
The Generalized Theory of Transfers and Welfare: Exogenous (Policy-Imposed) and Endogenous (Transfer-Induced) Distortions
This paper reconsiders the welfare effects of a transfer payment in a two-commodity world with two agents (countries), by taking the presence of exogenous and endogenous distortions into account. When there is an exogenous tax-cumsubsidy on production, consumption, or trade, the analysis demonstrates that a transfer may paradoxically enrich the donor and immiserize the recipient under certain specific conditions. These welfare paradoxes are also shown to be possible if the transfer endogenously induces “directly unproductive profit-seeking” activity of lobbyists. Concluding remarks emphasize the paper's relevance for policymakers.