Tariffs The Real Exchange Rate And The Terms Of Trade

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Tariffs, the Real Exchange Rate and the Terms of Trade

Author : Sweder van Wijnbergen
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (874 download)

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Book Synopsis Tariffs, the Real Exchange Rate and the Terms of Trade by : Sweder van Wijnbergen

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 1989 with total page 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.

Tariffs, Terms of Trade, and the Real Exchange Rate in an Intertemporal Optimizing Model of the Current Account

Author : Sebastian Edwards
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Tariffs, Terms of Trade, and the Real Exchange Rate in an Intertemporal Optimizing Model of the Current Account by : Sebastian Edwards

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.

Tariffs, the Real Exchange Rate and the Terms of Trade

Author : Sweder van Wijnbergen
Publisher :
ISBN 13 :
Total Pages : 15 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Tariffs, the Real Exchange Rate and the Terms of Trade by : Sweder van Wijnbergen

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.

Tariffs, the Real Exchange Rate and the Terms of Trade

Author :
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (62 download)

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Book Synopsis Tariffs, the Real Exchange Rate and the Terms of Trade by :

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:

The Macroeconomic Effects of Trade Tariffs

Author : Jesper Lindé
Publisher : International Monetary Fund
ISBN 13 : 1484308751
Total Pages : 54 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis The Macroeconomic Effects of Trade Tariffs by : Jesper Lindé

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 2017-07-10 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.

Trade Liberalization and Real Exchange Rate Movement

Author : Ms.Xiangming Li
Publisher : International Monetary Fund
ISBN 13 : 1451854749
Total Pages : 39 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Trade Liberalization and Real Exchange Rate Movement by : Ms.Xiangming Li

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.

An Interpretation of the Effects of Tariffs and Terms on Trade on the Real Exchange Rate

Author : Murat Doġanlar
Publisher :
ISBN 13 :
Total Pages : 11 pages
Book Rating : 4.:/5 (326 download)

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Book Synopsis An Interpretation of the Effects of Tariffs and Terms on Trade on the Real Exchange Rate by : Murat Doġanlar

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:

Tariffs, Terms of Trade, Unemployment and the Real Exchange Rate

Author : Bharat R. Hazari
Publisher :
ISBN 13 : 9780730014195
Total Pages : 35 pages
Book Rating : 4.0/5 (141 download)

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Book Synopsis Tariffs, Terms of Trade, Unemployment and the Real Exchange Rate by : Bharat R. Hazari

Download or read book Tariffs, Terms of Trade, Unemployment and the Real Exchange Rate written by Bharat R. Hazari and published by . This book was released on 1990 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Macroeconomic Consequences of Tariffs

Author : Davide Furceri
Publisher : International Monetary Fund
ISBN 13 : 1484390067
Total Pages : 57 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Macroeconomic Consequences of Tariffs by : Davide Furceri

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.

Temporary Terms of Trade Disturbances, the Real Exchange Rate and the Current Account

Author : Sebastian Edwards
Publisher :
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (183 download)

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Book Synopsis Temporary Terms of Trade Disturbances, the Real Exchange Rate and the Current Account by : Sebastian Edwards

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 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Uniform Trade Taxes, Devaluation, and the Real Exchange Rate

Author : Stephen A. O'Connell
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Uniform Trade Taxes, Devaluation, and the Real Exchange Rate by : Stephen A. O'Connell

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:

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

Download 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 PDF Online Free

Author : David G. Tarr
Publisher :
ISBN 13 :
Total Pages : 166 pages
Book Rating : 4.:/5 (2 download)

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Book Synopsis 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 by : David G. Tarr

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:

Exchange Rate Volatility and World Trade

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 9781557750655
Total Pages : 76 pages
Book Rating : 4.7/5 (56 download)

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Book Synopsis Exchange Rate Volatility and World Trade by : International Monetary Fund

Download or read book Exchange Rate Volatility and World Trade written by International Monetary Fund and published by International Monetary Fund. This book was released on 1984-07-08 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: In View of the continuation of substantial movements in exchange rate relationships among major currencies, the recent increase in protectionist pressures, and the disappointing performance of world trade, renewed concern has been expressed about the possible adverse effects of exchange rate variability on trade. Against the background of this concern, the following decision was reached at the ministerial meeting of the General Agreement of Tariffs and Trade (GATT) in November 1982.

The Terms of Trade and Real Exchange Rates

Author : W. J. Martin
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis The Terms of Trade and Real Exchange Rates by : W. J. Martin

Download or read book The Terms of Trade and Real Exchange Rates written by W. J. Martin and published by . This book was released on 1989 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Balance of Trade, the Terms of Trade, and the Real Exchange Rate

Author : Jonathan David Ostry
Publisher :
ISBN 13 :
Total Pages : 116 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis The Balance of Trade, the Terms of Trade, and the Real Exchange Rate by : Jonathan David Ostry

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:

Clashing Over Commerce

Author : Douglas A. Irwin
Publisher : University of Chicago Press
ISBN 13 : 022639901X
Total Pages : 873 pages
Book Rating : 4.2/5 (263 download)

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Book Synopsis Clashing Over Commerce by : Douglas A. Irwin

Download or read book Clashing Over Commerce written by Douglas A. Irwin and published by University of Chicago Press. This book was released on 2017-11-29 with total page 873 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Foreign Affairs Best Book of the Year: “Tells the history of American trade policy . . . [A] grand narrative [that] also debunks trade-policy myths.” —Economist Should the United States be open to commerce with other countries, or should it protect domestic industries from foreign competition? This question has been the source of bitter political conflict throughout American history. Such conflict was inevitable, James Madison argued in the Federalist Papers, because trade policy involves clashing economic interests. The struggle between the winners and losers from trade has always been fierce because dollars and jobs are at stake: depending on what policy is chosen, some industries, farmers, and workers will prosper, while others will suffer. Douglas A. Irwin’s Clashing over Commerce is the most authoritative and comprehensive history of US trade policy to date, offering a clear picture of the various economic and political forces that have shaped it. From the start, trade policy divided the nation—first when Thomas Jefferson declared an embargo on all foreign trade and then when South Carolina threatened to secede from the Union over excessive taxes on imports. The Civil War saw a shift toward protectionism, which then came under constant political attack. Then, controversy over the Smoot-Hawley tariff during the Great Depression led to a policy shift toward freer trade, involving trade agreements that eventually produced the World Trade Organization. Irwin makes sense of this turbulent history by showing how different economic interests tend to be grouped geographically, meaning that every proposed policy change found ready champions and opponents in Congress. Deeply researched and rich with insight and detail, Clashing over Commerce provides valuable and enduring insights into US trade policy past and present. “Combines scholarly analysis with a historian’s eye for trends and colorful details . . . readable and illuminating, for the trade expert and for all Americans wanting a deeper understanding of America’s evolving role in the global economy.” —National Review “Magisterial.” —Foreign Affairs

Illegal Transactions in International Trade

Author : Jagdish N. Bhagwati
Publisher : Elsevier
ISBN 13 : 1483274802
Total Pages : 221 pages
Book Rating : 4.4/5 (832 download)

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Book Synopsis Illegal Transactions in International Trade by : Jagdish N. Bhagwati

Download or read book Illegal Transactions in International Trade written by Jagdish N. Bhagwati and published by Elsevier. This book was released on 2014-05-12 with total page 221 pages. Available in PDF, EPUB and Kindle. Book excerpt: Studies in International Economics, Volume 1: Illegal Transactions in International Trade: Theory and Measurement embraces the theoretical, empirical, and econometric aspects of international economic analysis. The selection first elaborates on a theoretical analysis of smuggling, an alternative proof of the Bhagwati-Hansen results on smuggling and welfare, and smuggling and trade policy. Discussions focus on optimal tariff and revenue questions, legal trade eliminated by smuggling, legal trade co-existing with smuggling, overinvoicing and underinvoicing of transactions, and smuggling and welfare. The text then examines overinvoicing, underutilization, and distorted industrial growth, fiscal policies, faking of foreign trade declarations, and the balance of payments, and accuracy of economic observations. Topics include statistics of foreign commodity trade, trade tariffs and subsidies, effect on capital complexity, industrial employment and output growth, implications for industrial development, effective exchange rate for capital imports, and foreign-exchange profits of overinvoicing. The manuscript ponders on tariffs and smuggling in Indonesia and the problems of assessing unrecorded trade, including complications in comparing partners' trade accounts, measuring recorded values of all products, market impact of smuggling, and methods for detecting smuggling. The selection is a valuable source of data for researchers interested in international trade.