The Macroeconomic Effects of Trade Tariffs

Revisiting the Lerner Symmetry Result

The Macroeconomic Effects of Trade Tariffs
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... READ MORE...

Publication date: July 2017
ISBN 9781484306116
$18.00

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