Should Tariff Reducations be Announced? An Intertemporal Computable General Equilibrium Analysis Malakellis, Michael 10.4225/03/593797f07a246 https://bridges.monash.edu/articles/journal_contribution/Should_Tariff_Reducations_be_Announced_An_Intertemporal_Computable_General_Equilibrium_Analysis/5085523 In this paper the macro and structural implications of three alternative tariff-reduction strategies are examined. Under the first strategy, which is similar to that adopted in Australia in 1973, the tariff cut is implemented without warning. The second strategy is consistent with the current approach of phasing in tariff cuts according to a previously announced schedule. Under the third strategy the tariff cut is implemented several years after it is announced. We find that the long-run effects of the alternative tariff reduction strategies are similar, but that the adjustment paths are not. Our results suggest that if tariffs are to be reduced then it is preferable to implement the policy without warning. The results emphasise the point that the sooner tariffs are reduced the soonerwill the allocative efficiency gains from doing so be realised. 2017-06-07 06:06:39 Labour market adjustment monash:6802 1959.1/35428 1997 Industry protection Timing issues Computable general equilibrium model Allocative efficiency Comparative-dynamic simulation Tariffs