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Autore: | Choudhri Ehsan |
Titolo: | Trade Liberalization, Macroeconomic Adjustment, and Welfare : : Unifying Trade and Macro Models / / Ehsan Choudhri, Hamid Faruqee, Stephen Tokarick |
Pubblicazione: | Washington, D.C. : , : International Monetary Fund, , 2006 |
Descrizione fisica: | 1 online resource (28 p.) |
Soggetto topico: | Free trade - Econometric models |
Structural adjustment (Economic policy) - Econometric models | |
Exports and Imports | |
Foreign Exchange | |
Macroeconomics | |
Taxation | |
Trade Policy | |
International Trade Organizations | |
Macroeconomics: Consumption | |
Saving | |
Wealth | |
Currency | |
Foreign exchange | |
International economics | |
Public finance & taxation | |
Trade liberalization | |
Exchange rate flexibility | |
Conventional peg | |
Tariffs | |
Consumption | |
Commercial policy | |
Tariff | |
Economics | |
Altri autori: | FaruqeeHamid TokarickStephen |
Note generali: | "December 2006." |
Nota di bibliografia: | Includes bibliographical references (p. 20-21). |
Nota di contenuto: | ""Contents""; ""I. INTRODUCTION""; ""II. THEORETICAL FRAMEWORK""; ""III. QUANTITATIVE ANALYSIS""; ""IV. CONCLUSIONS""; ""REFERENCES"" |
Sommario/riassunto: | Trade 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. |
Titolo autorizzato: | Trade Liberalization, Macroeconomic Adjustment, and Welfare |
ISBN: | 1-4623-3162-9 |
1-4527-6526-X | |
1-283-51225-4 | |
1-4519-1017-7 | |
9786613824707 | |
Formato: | Materiale a stampa |
Livello bibliografico | Monografia |
Lingua di pubblicazione: | Inglese |
Record Nr.: | 9910788416603321 |
Lo trovi qui: | Univ. Federico II |
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