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Price, quality and welfare effects of European VERs on Japanese autos

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  • Melo, Jaime de
  • Messerlin, Patrick A.

Abstract

This paper examines the impact of the VERs negotiated by the U.K., France and Germany with Japanese car makers. Market share analysis shows that the VERs did not arrest the declines in apparent consumption by local producers. Further analysis from a sample of Japanese (and other) cars sold on the French and German markets indicates quality upgrading between 1981 and 1983. The data also suggest that the VER was strictly binding in France starting around 1984 but not in Germany until 1985, the end of the sample period. Finally, the paper shows that the French, German and Japanese car producers supplied an increasingly similar product mix on the French market throughout the sample period (1979–1985) but the Italian producers shifted towards a lower (fiscal) horsepower mix.
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  • Melo, Jaime de & Messerlin, Patrick A., 1988. "Price, quality and welfare effects of European VERs on Japanese autos," European Economic Review, Elsevier, vol. 32(7), pages 1527-1546, September.
    • Handle: RePEc:eee:eecrev:v:32:y:1988:i:7:p:1527-1546
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    Cited by:

    1. Reis, Hugo J. & Santos Silva, J.M.C., 2006. "Hedonic prices indexes for new passenger cars in Portugal (1997-2001)," Economic Modelling, Elsevier, vol. 23(6), pages 890-908, December.
    2. Arawomo, Damilola F. & Osigwe, Augustine C., 2016. "Nexus of fuel consumption, car features and car prices: Evidence from major institutions in Ibadan," Renewable and Sustainable Energy Reviews, Elsevier, vol. 59(C), pages 1220-1228.
    3. Chad P. Bown & Rachel McCulloch, 2012. "Antidumping and Market Competition: Implications for Emerging Economies," Working Papers 50, Brandeis University, Department of Economics and International Business School.
    4. Irandoust, Manuchehr, 1998. "Pricing Policy in the Swedish Automobile Market," Journal of Economics and Business, Elsevier, vol. 50(3), pages 309-317, May.
    5. Jean-François Loué & Patrick Messerlin, 1993. "Le Grand marché et le commerce extérieur," Revue de l'OFCE, Programme National Persée, vol. 43(1), pages 243-272.
    6. Yves Bourdet, 1991. "Pricing policy and quality upgrading in the Swedish car market: Do import surveillance and exchange rate instability matter?," Open Economies Review, Springer, vol. 2(3), pages 255-274, October.
    7. Manuchehr Irandoust, 1996. "An empirical analysis of market performance in the car industry," Open Economies Review, Springer, vol. 7(4), pages 327-348, October.
    8. Douglas Nelson, 1996. "The Political Economy of U.S. Automobile Protection," NBER Chapters, in: The Political Economy of American Trade Policy, pages 133-196, National Bureau of Economic Research, Inc.
    9. Dirk De Bièvre & Emile van Ommeren, 2021. "Multilateralism, Bilateralism and Institutional Choice: The Political Economy of Regime Complexes in International Trade Policy," Global Policy, London School of Economics and Political Science, vol. 12(S4), pages 14-24, May.
    10. Irandoust, Manuchehr, 1999. "Market structure and market shares in the car industry," Japan and the World Economy, Elsevier, vol. 11(4), pages 531-544, December.
    11. repec:dau:papers:123456789/6629 is not listed on IDEAS
    12. Pickernell, David, 1997. "Less pain but what gain?: a comparison of the effectiveness and effects of Japanese and non-Japanese car assemblers' buyer-supplier relations in the UK automotive industry," Omega, Elsevier, vol. 25(4), pages 377-395, August.

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