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Temporary Import Tariffs The Real Exchange Rate And The Current Account
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Book Synopsis Temporary Import Tariffs, the Real Exchange Rate and the Current Account by : International Monetary Fund
Download or read book Temporary Import Tariffs, the Real Exchange Rate and the Current Account written by International Monetary Fund and published by International Monetary Fund. This book was released on 1988-08-17 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper a general equilibrium intertemporal model with optimizing consumers and producers is developed to analyze how the imposition of a temporary import tariff affects the path of real exchange rates and the current account. The model is completely real, and considers a small open economy that produces and consumes three goods each period. It is shown that, without imposing rigidities or adjustment costs, interesting paths for the equilibrium real exchange rate can be generated. In particular “equilibrium overshooting” can be observed. Precise conditions under which a temporary import tariff will worsen the current account in period 1 are derived. Several ways in which the model can be extended are discussed.
Book Synopsis Temporary Import Tariffs, the Real Exchange Rate and the Current Account by : Sebastian Edwards
Download or read book Temporary Import Tariffs, the Real Exchange Rate and the Current Account written by Sebastian Edwards and published by . This book was released on 2006 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper a general equilibrium intertemporal model with optimizing consumers and producers is developed to analyze how the imposition of a temporary import tariff affects the path of real exchange rates and the current account. The model is completely real, and considers a small open economy that produces and consumes three goods each period. It is shown that, without imposing rigidities or adjustment costs, interesting paths for the equilibrium real exchange rate can be generated. In particular quot;equilibrium overshootingquot; can be observed. Precise conditions under which a temporary import tariff will worsen the current account in period 1 are derived. Several ways in which the model can be extended are discussed.
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.
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:
Book Synopsis Fundamental Determinants of Exchange Rates by : Jerome L. Stein
Download or read book Fundamental Determinants of Exchange Rates written by Jerome L. Stein and published by Clarendon Press. This book was released on 1998-04-30 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Existing models fail to explain the large fluctuations in the real exchange rates of most currencies over the past twenty years. The Natural Real Exchange Rate approach (NATREX) taken here offers an alternative paradigm to those which focus on short-run movements of nominal eschange rates, purchasing power parity of the representative agent intertemporal optimization models. Yet it is also neo-classical in its stress upon the accepted fundamentals driving a real economy. It concentrates on the real exchange rate, and explains medium- tolong-run movements in equilibrium real exchange rates in terms of fundamental variables: the productivity of capital and social (public plus private) thrift at home and abroad. The NATREX approach is a family of growth models, each tailored to the characteristics of the countries considered. The authors explain the real international value of the US dollar relativ to the G10 countries, and the US current account. These are two large economies. The model is also applied to small economies, where it explains the real value of the Australian dollar and the Latin American currencies relative to the US dollar. The model is relevant for developing countries where the foreign debt is a concern. Finally, it is applied to two medium-sized economies to explain the bilateral exchange rate between the French franc and the Deutsche Mark. The authors demonstrate both the promise of the NATREX model and its applicability to economies large and small. Alongside the analysis, econometrics, and technical details of these case studies, the introductory chapter explains in accessible terms the rationale behind the approach. The mix of theory and empirical evidence makes this book relevant to academics and advanced graduate students, and to central banks, ministries of finance, and those concerned with the foreign debt of developing countries.
Book Synopsis Importing Into the United States by : U. S. Customs and Border Protection
Download or read book Importing Into the United States written by U. S. Customs and Border Protection and published by . This book was released on 2015-10-12 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explains process of importing goods into the U.S., including informed compliance, invoices, duty assessments, classification and value, marking requirements, etc.
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 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1451973136 Total Pages :236 pages Book Rating :4.4/5 (519 download)
Book Synopsis IMF Staff papers by : International Monetary Fund. Research Dept.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1991-01-01 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade liberalization in developing countries is frequently opposed on the grounds that, because it is likely to cause a deterioration in the external balance, it may not be a viable policy option for countries facing foreign exchange constraints. Recent literature suggests, however, an ambiguous relationship between tariff changes and the current account. This paper shows that if liberalization involves reducing tariffs on imported intermediate inputs (a reform that has figured prominently in developing countries), then the current account may improve or deteriorate, depending on the level of initial trade distortions and the structure of the economy.[JEL F13, F32, F41]
Book Synopsis External Performance in Low-Income Countries by : Mr.Alessandro Prati
Download or read book External Performance in Low-Income Countries written by Mr.Alessandro Prati and published by International Monetary Fund. This book was released on 2011-03-15 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Assessments of exchange rate misalignments and external imbalances for low-income countries are challenging because methodologies developed for advanced and emerging economies cannot be automatically applied to poorer nations. This paper uses a large database, unique in the set of indicators and number of countries it covers, to estimate the relationship in low-income countries between a set of fundamentals in the medium to long term and the real effective exchange rate, the current account, and the net external assets position.
Download or read book Economica written by and published by . This book was released on 1989 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exercises in Intertemporal Open Economy Macroeconomics by : Thomas H. Krueger
Download or read book Exercises in Intertemporal Open Economy Macroeconomics written by Thomas H. Krueger and published by MIT Press. This book was released on 1997 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: This exercise manual has been revised to be a companion volume to the third edition of "Fiscal Policies and the World Economy" by Jacob Frenkel and Assaf Razin. It includes new material on endogenous growth, convergence, and an extension of the Mundell-Flemming model.
Book Synopsis Tariff Passthrough at the Border and at the Store: Evidence from US Trade Policy by : Alberto Cavallo
Download or read book Tariff Passthrough at the Border and at the Store: Evidence from US Trade Policy written by Alberto Cavallo and published by International Monetary Fund. This book was released on 2019-11-01 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: We use micro data collected at the border and at retailers to characterize the effects brought by recent changes in US trade policy - particularly the tariffs placed on imports from China - on importers, consumers, and exporters. We start by documenting that the tariffs were almost fully passed through to total prices paid by importers, suggesting the tariffs' incidence has fallen largely on the United States. Since we estimate the response of prices to exchange rates to be far more muted, the recent depreciation of the Chinese renminbi is unlikely to alter this conclusion. Next, using product-level data from several large multi-national retailers, we demonstrate that the impact of the tariffs on retail prices is more mixed. Some affected product categories have seen sharp price increases, but the difference between affected and unaffected products is generally quite modest, suggesting that retail margins have fallen. These retailers' imports increased after the initial announcement of possible tariffs, but before their full implementation, so the intermediate passthrough of tariffs to their prices may not persist. Finally, in contrast to the case of foreign exporters facing US tariffs, we show that US exporters lowered their prices on goods subjected to foreign retaliatory tariffs compared to exports of non-targeted goods.
Book Synopsis Macroeconomics for Professionals by : Leslie Lipschitz
Download or read book Macroeconomics for Professionals written by Leslie Lipschitz and published by Cambridge University Press. This book was released on 2019-01-23 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding macroeconomic developments and policies in the twenty-first century is daunting: policy-makers face the combined challenges of supporting economic activity and employment, keeping inflation low and risks of financial crises at bay, and navigating the ever-tighter linkages of globalization. Many professionals face demands to evaluate the implications of developments and policies for their business, financial, or public policy decisions. Macroeconomics for Professionals provides a concise, rigorous, yet intuitive framework for assessing a country's macroeconomic outlook and policies. Drawing on years of experience at the International Monetary Fund, Leslie Lipschitz and Susan Schadler have created an operating manual for professional applied economists and all those required to evaluate economic analysis.
Book Synopsis International Macroeconomics by : Stephanie Schmitt-Grohé
Download or read book International Macroeconomics written by Stephanie Schmitt-Grohé and published by Princeton University Press. This book was released on 2022-09-06 with total page 483 pages. Available in PDF, EPUB and Kindle. Book excerpt: An essential introduction to one of the most timely and important subjects in economics International Macroeconomics presents a rigorous and theoretically elegant treatment of real-world international macroeconomic problems, incorporating the latest economic research while maintaining a microfounded, optimizing, and dynamic general equilibrium approach. This one-of-a-kind textbook introduces a basic model and applies it to fundamental questions in international economics, including the determinants of the current account in small and large economies, processes of adjustment to shocks, the determinants of the real exchange rate, the role of fixed and flexible exchange rates in models with nominal rigidities, and interactions between monetary and fiscal policy. The book confronts theoretical predictions using actual data, highlighting both the power and limits of given theories and encouraging critical thinking. Provides a rigorous and elegant treatment of fundamental questions in international macroeconomics Brings undergraduate and master’s instruction in line with modern economic research Follows a microfounded, optimizing, and dynamic general equilibrium approach Addresses fundamental questions in international economics, such as the role of capital controls in the presence of financial frictions and balance-of-payments crises Uses real-world data to test the predictions of theoretical models Features a wealth of exercises at the end of each chapter that challenge students to hone their theoretical skills and scrutinize the empirical relevance of models Accompanied by a website with lecture slides for every chapter
Book Synopsis Effective Trade Costs and the Current Account: An Empirical Analysis by : Ms.Emine Boz
Download or read book Effective Trade Costs and the Current Account: An Empirical Analysis written by Ms.Emine Boz and published by International Monetary Fund. This book was released on 2019-01-15 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: A view receiving increased support is that the height of trade costs in prime export sectors has a strong effect on current account balances: countries specializing in sectors that face relatively high trade costs, such as services, tend to run current account deficits, and similarly, countries specializing in low trade cost sectors, such as manufacturing, tend to run current account surpluses. To test this view, we first infer comparative advantages and trade costs, by sector, within a large sample of countries for the period 1970–2014. Then we construct effective trade costs—trade costs weighted by sectoral comparative advantage—to gauge the height of a country’s overall trade costs. Results reveal that, although higher effective exporting costs are associated with lower current account balances, their impact is quantitatively limited; furthermore, the effective costs of importing often have no statistically significant effect.
Book Synopsis Journal of International Money and Finance by :
Download or read book Journal of International Money and Finance written by and published by . This book was released on 1990 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Journal of International Economics by :
Download or read book Journal of International Economics written by and published by . This book was released on 1991 with total page 856 pages. Available in PDF, EPUB and Kindle. Book excerpt:
