THE ECONOMIC CONSEQUENCES OF SIR ROBERT PEEL: A QUANTITATIVE ASSESSMENT OF THE REPEAL OF THE CORN LAWS

• 成果类型: Article
• 署名作者: Irwin, Douglas A.; Chepeliev, Maksym G.
• 署名单位: Dartmouth College; Purdue University System; Purdue University
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1093/ej/ueab029
• 发表日期: 2021
• 页码: 3322-3337
• 关键词: free-trade; british; PROTECTION; britain; Tariff; IMPACT

摘要

This paper provides a quantitative general equilibrium evaluation of the repeal of Britain's Corn Laws in 1846. Using a detailed input-output matrix of the British economy in 1841, we find the abolition of Britain's tariff on imported grain left overall welfare roughly unchanged as the static efficiency gains are offset by terms-of-trade losses. Labourers and capital owners gained a slight amount at the expense of landowners. Combining these changes in factor payments with the different consumption patterns across income groups, we find that the top 10% of income earners lost while the bottom 90% of income earners gained.