The problem of choosing second-best trade policies is modified by including sector-specific policies as well as tariffs …. We obtain conditions under which reduction of the largest tariff is welfare improving. Formulae for the optimal tariff …

the price path (high price, low price, and limit price). The optimal tariff in this dynamic analysis is lower than the … optimal tariff in a static analysis (to allow consumers to take advantage of the low-price period). …

inconsistent; the consistent tariff is extremely myopic and may be worse than free trade for the importer. The paper concentrates …This paper studies the optimal tariff in a dynamic framework. The effects of the supplier's rationality and of the type … of strategy available to the importer are discussed. With rational sellers, the optimal tariff is dynamically …