Artículo publicado en: Journal of International Economics, v.4, n.2, p. 177-185 (1974).

Bibliografía: p. 184-185.

This paper discusses the effects of tariffs in a small country that consumes and produces three commodities: exportables, importables and nontraded goods. An alternative to I.A. McDougall's 1970 general equilibrium approach in a well specified two-country model is presented and reinterpreted. The alternative treatment has a strong flavor of partial equilibrium analysis. It is typically developed in terms of independent markets for imports and exports with an emphasis on nominal prices, the exchange rate and the trade balance. The approach was reinterpreted as a special case of the general equilibrium model.