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Author : Murat Doġanlar
Publisher :
ISBN 13 :
Total Pages : 11 pages
Book Rating : 4.:/5 (326 download)
Download or read book An Interpretation of the Effects of Tariffs and Terms on Trade on the Real Exchange Rate written by Murat Doġanlar and published by . This book was released on 1995 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sebastian Edwards
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.3/5 ( download)
Download or read book Tariffs, Terms of Trade, and the Real Exchange Rate in an Intertemporal Optimizing Model of the Current Account written by Sebastian Edwards and published by . This book was released on 1987 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper a minimal general equilibrium intertemporal model, with optimizing consumers and producers, is developed to analyze the process of real exchange rate determination. The model is completely real, and considers a small open economy that produces and consumes three goods each period. The model is also used to analyze the way in which the current account responds to several shocks. The working of the model is illustrated for the case of two disturbances: the imposition of import tariffs, and external terms of trade shocks. In the case of import tariffs, a distinction is made between temporary, anticipated, and permanent changes. It is shown that, without imposing rigidities or adjustment costs, interesting paths for the equilibrium real exchange rate can be generated. In particular "overshooting" and movements in opposite directions in periods one and two can be observed. Precise conditions under which temporary import tariffs will improve the current account are derived. Finally, several ways in which the model can be extended to take into account other issues such as changes in the fiscal deficit, and financial deregulation are discussed in detail.
Author : Ms.Xiangming Li
Publisher : International Monetary Fund
ISBN 13 : 1451854749
Total Pages : 39 pages
Book Rating : 4.4/5 (518 download)
Download or read book Trade Liberalization and Real Exchange Rate Movement written by Ms.Xiangming Li and published by International Monetary Fund. This book was released on 2003-06-01 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although theory suggests that the real exchange rate should depreciate after a credible trade liberalization but could appreciate temporarily with a noncredible one, little empirical evidence exists. Unlike existing studies that use either indirect tests or unreliable openness measures, this paper uses an event study based on carefully documented trade liberalization in 45 countries. The result shows that real exchange rates depreciate after countries open their economies to trade. In countries with multiple liberalization episodes, however, real exchange rates appreciate during early episodes, suggesting that partial or noncredible trade liberalizations are associated with real appreciation.
Author : Sebastian Edwards
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.0/5 ( download)
Download or read book Tariffs, the Real Exchange Rate and the Terms of Trade written by Sebastian Edwards and published by . This book was released on 1987 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we investigate the relation between tariff changes, terms of trade changes and the equilibrium real exchange rate. For this purpose we use two models of a small open economy: (1) a three goods version of the Ricardo-Viner model; and (2) a three goods model with full intersectoral factor mobility. We show that, in general, it is not possible to know how the equilibrium real exchange rate will respond to these two disturbances. Moreover, we show that the traditional wisdom that establishes that a tariff hike will always result in a real appreciation, while a terms of trade worsening will generate an equilibrium real depreciation, is incorrect.
Author : Stephen A. O'Connell
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.3/5 ( download)
Download or read book Uniform Trade Taxes, Devaluation, and the Real Exchange Rate written by Stephen A. O'Connell and published by . This book was released on 1989 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jose De Gregorio
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (318 download)
Download or read book Terms of Trade, Productivity, and the Real Exchange Rate written by Jose De Gregorio and published by . This book was released on 1994 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper examines the effects of terms of trade movements and productivity differentials across sectors on the behavior of the real exchange rate. We develop a simple model of a small open economy producing exportable and nontradable goods and consuming importable and nontradable goods and present empirical evidence for a sample of fourteen OECD countries. The evidence broadly supports the predictions of the model, namely that faster productivity growth in the tradable relative to the nontradable sector and an improvement in the terms of trade induce a real appreciation.
Author : Jesper Lindé
Publisher : International Monetary Fund
ISBN 13 : 1484306112
Total Pages : 54 pages
Book Rating : 4.4/5 (843 download)
Download or read book The Macroeconomic Effects of Trade Tariffs written by Jesper Lindé and published by International Monetary Fund. This book was released on 2017-07-07 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the robustness of the Lerner symmetry result in an open economy New Keynesian model with price rigidities. While the Lerner symmetry result of no real effects of a combined import tariff and export subsidy holds up approximately for a number of alternative assumptions, we obtain quantitatively important long-term deviations under complete international asset markets. Direct pass-through of tariffs and subsidies to prices and slow exchange rate adjustment can also generate significant short-term deviations from Lerner. Finally, we quantify the macroeconomic costs of a trade war and find that they can be substantial, with permanently lower income and trade volumes. However, a fully symmetric retaliation to a unilaterally imposed border adjustment tax can prevent any real or nominal effects.
Author : David G. Tarr
Publisher :
ISBN 13 :
Total Pages : 166 pages
Book Rating : 4.:/5 (2 download)
Download or read book Aggregate Costs to the United States of Tariffs and Quotas on Imports, General Tariff Cuts and Removal of Quotas on Automobiles, Steel, Sugar, and Textiles written by David G. Tarr and published by . This book was released on 1984 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jonathan David Ostry
Publisher :
ISBN 13 :
Total Pages : 116 pages
Book Rating : 4.3/5 ( download)
Download or read book The Balance of Trade, the Terms of Trade, and the Real Exchange Rate written by Jonathan David Ostry and published by . This book was released on 1988 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sweder van Wijnbergen
Publisher :
ISBN 13 :
Total Pages : 15 pages
Book Rating : 4.:/5 (129 download)
Download or read book Tariffs, the Real Exchange Rate and the Terms of Trade written by Sweder van Wijnbergen and published by . This book was released on 2007 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we investigate the relation between tariff changes, terms of trade changes and the equilibrium real exchange rate. For this purpose we use two models of a small open economy: (1) a three goods version of the Ricardo-Viner model; and (2) a three goods model with full intersectoral factor mobility. We show that, in general, it is not possible to know how the equilibrium real exchange rate will respond to these two disturbances. Moreover, we show that the traditional wisdom that establishes that a tariff hike will always result in a real appreciation, while a terms of trade worsening will generate an equilibrium real depreciation, is incorrect.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451930925
Total Pages : 56 pages
Book Rating : 4.4/5 (519 download)
Download or read book The Balance of Trade, the Terms of Trade, and the Real Exchange Rate written by International Monetary Fund and published by International Monetary Fund. This book was released on 1988-01-01 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses an intertemporal optimizing model of a small open economy to analyze how terms of trade changes affect real exchange rates and the trade balance. We consider temporary current, anticipated future, and permanent changes in the terms of trade. The results suggest that the relationship between the terms of trade and the current account (the so-called Harberger-Laursen-Metzler effect) may be quite sensitive to whether or not the model incorporates nontraded goods. Thus, the real exchange rate may be an important variable through which terms of trade shocks are transmitted to the current account.
Author : Davide Furceri
Publisher : International Monetary Fund
ISBN 13 : 1484394895
Total Pages : 57 pages
Book Rating : 4.4/5 (843 download)
Download or read book Macroeconomic Consequences of Tariffs written by Davide Furceri and published by International Monetary Fund. This book was released on 2019-01-15 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the macroeconomic consequences of tariffs. We estimate impulse response functions from local projections using a panel of annual data that spans 151 countries over 1963-2014. We find that tariff increases lead, in the medium term, to economically and statistically significant declines in domestic output and productivity. Tariff increases also result in more unemployment, higher inequality, and real exchange rate appreciation, but only small effects on the trade balance. The effects on output and productivity tend to be magnified when tariffs rise during expansions, for advanced economies, and when tariffs go up, not down. Our results are robust to a large number of perturbations to our methodology, and we complement our analysis with industry-level data.
Author : Sebastian Edwards
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.3/5 ( download)
Download or read book Temporary Terms of Trade Disturbances, the Real Exchange Rate and the Current Account written by Sebastian Edwards and published by . This book was released on 1988 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Tariffs, the Real Exchange Rate and the Terms of Trade written by and published by . This book was released on 1987 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Isaiah Friedman
Publisher : Routledge
ISBN 13 : 1351475479
Total Pages : 137 pages
Book Rating : 4.3/5 (514 download)
Download or read book The Rate of Exchange and the Terms of Trade written by Isaiah Friedman and published by Routledge. This book was released on 2017-07-12 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume originated in a course of lectures which the author originally gave at the Universitu lnternationale de Sciences Comparues at Luxembourg. The book appeared under the title of the course, and followed the same pattern. In the course of revisions the analysis has been carried a little further than it was originally presented, and many details have been added to its algebraic parts. In spite of these amplifications, however, the text remains on the level of elementary economics, and may be recommended to students whose interest in the subject is ahead of their technical background. Ozga provides an intelligible theoretical outline of the rate of exchange, the terms of trade, and the balance of trade that brings into focus the complementarity of various widely used models. Simple supply and demand relations are developed to establish a link between the classical and Keynesian approaches and between the partial and the general equilibrium methods; and the emphasis is always on clarifying the part that the relations considered in individual models would actually play in a more comprehensive system. Requiring some familiarity with economic theory but no previous training in mathematics, this simple and concise volume is exceptionally well suited to courses on the macro-theory of international trade and is useful reading for all courses in macroeconomics.
Author : J. L. Ford
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.3/5 ( download)
Download or read book Tariffs Can Increase Output Under Flexible Exchange Rates written by J. L. Ford and published by . This book was released on 1983 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jaime De Melo
Publisher : MIT Press
ISBN 13 : 9780262041225
Total Pages : 320 pages
Book Rating : 4.0/5 (412 download)
Download or read book A General Equilibrium Analysis of US Foreign Trade Policy written by Jaime De Melo and published by MIT Press. This book was released on 1992 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors' model is the first large-scale computer simulation of the effects of changes in U.S. import quotas.
