Vai al contenuto principale della pagina
Autore: | Choudhri Ehsan U |
Titolo: | Trade liberalization, macroeconomic adjustment, and welfare : unifying trade and macro models / / prepared by Ehsan Choudhri, Hamid Faruqee, and Stephen Tokarick |
Pubblicazione: | Washington, D.C., : International Monetary Fund, 2006 |
Edizione: | 1st ed. |
Descrizione fisica: | 1 online resource (28 p.) |
Soggetto topico: | Free trade - Econometric models |
Structural adjustment (Economic policy) - Econometric models | |
Altri autori: | TokarickStephen FaruqeeHamid |
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.: | 9910826876103321 |
Lo trovi qui: | Univ. Federico II |
Opac: | Controlla la disponibilità qui |