Trade Policy and Redistribution when Preferences are Non-Homothetic

We compare redistribution through trade restrictions vs. domestic lump-sum transfers. When preferences are non-homothetic, even domestic lump-sum transfers affect relative prices. Thus, contrary to the conventional wisdom, domestic lump-sum transfers are not necessarily superior to distortionary

本文对比了通过贸易限制与国内一次性总付转移支付实现的再分配路径。当偏好为非齐次时，即便国内一次性总付转移支付也会对相对价格产生影响。因此，与传统认知相悖，国内一次性总付转移支付未必优于带有扭曲性的政策。