Are all trade protection policies created equal? Empirical evidence for nonequivalent market power effects of tariffs and quotas

► Empirical evidence found for nonequivalent market power effects of quotas and tariffs ► Quotas significantly increase market power, whereas tariffs do not. ► Detailed data on U.S. steel plants from 1967 to 2002 used to examine hypothesis. ► Results robust to different measures of market power and controlling for endogeneity