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035   $a(PQKBTitleCode)TC0000948679
035   $a(PQKBWorkID)10951192
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035   $a(OCoLC)535146941
035   $a(IMF)WPIEE2006304
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035   $a(IMF)WPIEA2006304
035   $aWPIEA2006304
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100   $a20020129d2006      uf         0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aTrade Liberalization, Macroeconomic Adjustment, and Welfare : $eUnifying Trade and Macro Models /$fEhsan Choudhri, Hamid Faruqee, Stephen Tokarick
205   $a1st ed.
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2006.
215   $a1 online resource (28 p.)
225 1 $aIMF Working Papers
300   $a"December 2006."
311 08$a9781451865646 
311 08$a1451865643 
320   $aIncludes bibliographical references (p. 20-21).
327   $a""Contents""; ""I. INTRODUCTION""; ""II. THEORETICAL FRAMEWORK""; ""III. QUANTITATIVE ANALYSIS""; ""IV. CONCLUSIONS""; ""REFERENCES""
330 3 $aTrade liberalization leads to long-run gains, but it can also involve costly short-run macroeconomic adjustment. The paper explores the relative importance of these effects within a dynamic general equilibrium model that captures key elements of both international trade and macroeconomic models. The welfare effect of trade liberalization is decomposed into a steady-state efficiency gain and a transitional loss associated with wage-price stickiness. Our estimates show that the transitional loss is small relative to the steady-state gain, and tends to be lower under flexible as compared to fixed exchange rates. We also show that the loss can be reduced further by a flexible price-level targeting policy rule.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2006/304
606   $aFree trade$xEconometric models
606   $aStructural adjustment (Economic policy)$xEconometric models
606   $aCommercial policy$2imf
606   $aConsumption$2imf
606   $aConventional peg$2imf
606   $aCurrency$2imf
606   $aEconomics$2imf
606   $aExchange rate flexibility$2imf
606   $aExports and Imports$2imf
606   $aForeign Exchange$2imf
606   $aForeign exchange$2imf
606   $aInternational economics$2imf
606   $aInternational Trade Organizations$2imf
606   $aMacroeconomics$2imf
606   $aMacroeconomics: Consumption$2imf
606   $aPublic finance & taxation$2imf
606   $aSaving$2imf
606   $aTariff$2imf
606   $aTariffs$2imf
606   $aTaxation$2imf
606   $aTrade liberalization$2imf
606   $aTrade Policy$2imf
606   $aWealth$2imf
615  0$aFree trade$xEconometric models.
615  0$aStructural adjustment (Economic policy)$xEconometric models.
615  7$aCommercial policy
615  7$aConsumption
615  7$aConventional peg
615  7$aCurrency
615  7$aEconomics
615  7$aExchange rate flexibility
615  7$aExports and Imports
615  7$aForeign Exchange
615  7$aForeign exchange
615  7$aInternational economics
615  7$aInternational Trade Organizations
615  7$aMacroeconomics
615  7$aMacroeconomics: Consumption
615  7$aPublic finance & taxation
615  7$aSaving
615  7$aTariff
615  7$aTariffs
615  7$aTaxation
615  7$aTrade liberalization
615  7$aTrade Policy
615  7$aWealth
700   $aChoudhri$b Ehsan$01816427
701   $aFaruqee$b Hamid$01810672
701   $aTokarick$b Stephen$01815684
712 02$aInternational Monetary Fund.$bResearch Dept.
801  0$bDcWaIMF
906   $aBOOK
912   $a9910975153003321
996   $aTrade Liberalization, Macroeconomic Adjustment, and Welfare$94372491
997   $aUNINA