Trade Liberalization, Macroeconomic Adjustment, and Welfare : : Unifying Trade and Macro Models / / Ehsan Choudhri, Hamid Faruqee, Stephen Tokarick
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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 |
| Opac: | Controlla la disponibilità qui |
Serie:
IMF Working Papers; Working Paper ; ; No. 2006/304