Climate policy and international trade
... greenhouse gas (GHG) emissions. A cost-e↵ective option is to set a price on CO2 either with an emissions trading system or an emissions tax. Some regions already have a pricing mechanism in place (e.g. EU ETS and California Cap-and-Trade), but a global system is currently unavailable under the varyi ...
... greenhouse gas (GHG) emissions. A cost-e↵ective option is to set a price on CO2 either with an emissions trading system or an emissions tax. Some regions already have a pricing mechanism in place (e.g. EU ETS and California Cap-and-Trade), but a global system is currently unavailable under the varyi ...
Ch8
... The change in the economic welfare of a country associated with an increase in a tariff equals A) efficiency loss - terms of trade gain. B) efficiency gain - terms of trade loss. C) efficiency loss + tax revenue gain. D) efficiency loss + tax revenue gain + terms of trade gain. E) None of the above. ...
... The change in the economic welfare of a country associated with an increase in a tariff equals A) efficiency loss - terms of trade gain. B) efficiency gain - terms of trade loss. C) efficiency loss + tax revenue gain. D) efficiency loss + tax revenue gain + terms of trade gain. E) None of the above. ...
Open Access
... According to the Governor of Bank of England Mervyn King, the financial crisis of 2007-2008 is the worst since the Great Depression in the 1930s (Telegraph, 2013). The drop in many country’s GDP and the economic slowdown brought up the question to what could be done in order to get the economy back ...
... According to the Governor of Bank of England Mervyn King, the financial crisis of 2007-2008 is the worst since the Great Depression in the 1930s (Telegraph, 2013). The drop in many country’s GDP and the economic slowdown brought up the question to what could be done in order to get the economy back ...
NBER WORKING PAPER SERIES TARIFFS, EMPLOYMENT AND THE CURRENT ACCOUNT:
... negative impact on the CA or potentially even a positive impact, because they increase the consumption rate of interest (the ternis at which future ...
... negative impact on the CA or potentially even a positive impact, because they increase the consumption rate of interest (the ternis at which future ...
D P N -C
... to about 12% (Paus, Reinhardt, and Robinson 2003, 1). Similarly, nontariff barriers also declined drastically across the region (Paus, Reinhardt, and Robinson, 2003). This was accompanied by the revival in 1995 of the Andean Community (AC) which allows for the free movement of goods, services, and f ...
... to about 12% (Paus, Reinhardt, and Robinson 2003, 1). Similarly, nontariff barriers also declined drastically across the region (Paus, Reinhardt, and Robinson, 2003). This was accompanied by the revival in 1995 of the Andean Community (AC) which allows for the free movement of goods, services, and f ...
Chapter 7 - chass.utoronto
... and the national government) and one domestic loser (domestic consumers) because of the imposition of a tariff. We can evaluate the net effect on the whole country, if we have some way of comparing winners and losers. As we did beginning in Chapter 2, we can, for instance, use the one-dollar-one-vot ...
... and the national government) and one domestic loser (domestic consumers) because of the imposition of a tariff. We can evaluate the net effect on the whole country, if we have some way of comparing winners and losers. As we did beginning in Chapter 2, we can, for instance, use the one-dollar-one-vot ...
CBI Literature review of the impact of EU membership on the UK
... now updated this review, taking into account a number of new estimates that have been made available since 2013 as well as deepening the analysis. We are reaffirming our view that the body of academic evidence points to an overall net benefit of EU membership to the UK around 4‐5% o ...
... now updated this review, taking into account a number of new estimates that have been made available since 2013 as well as deepening the analysis. We are reaffirming our view that the body of academic evidence points to an overall net benefit of EU membership to the UK around 4‐5% o ...
NBER WORKING PAPER SERIES
... during this period. The sixties and seventies, therefore, represents a period of increasing international economic activity for both the U.S. and Canadian ...
... during this period. The sixties and seventies, therefore, represents a period of increasing international economic activity for both the U.S. and Canadian ...
NBER WORKING PAPER SERIES Christopher J. Erceg Christopher Gust
... markups in the spirit of Dornbusch. We find that these mechanisms can amplify differences in the response of domestic inflation as the degree of openness varies. For example, domestic inflation falls by less in response to a positive technology shock in a highly open economy, reflecting that the ass ...
... markups in the spirit of Dornbusch. We find that these mechanisms can amplify differences in the response of domestic inflation as the degree of openness varies. For example, domestic inflation falls by less in response to a positive technology shock in a highly open economy, reflecting that the ass ...
Politics, Surpluses, Deficits, and Debt Chapter 12
... country, since government gets a portion of all earnings of those assets in tax revenue. ...
... country, since government gets a portion of all earnings of those assets in tax revenue. ...
NONTRADITIONAL OR NEW TRADITIONAL EXPORTS: Ecuador`s
... nonpetroleum export earnings rose from less than 0.2 percent to 9 percent. An understanding of the country’s success in exporting flowers provides important insights into Ecuador’s economic past and perhaps its future, and it offers lessons for other developing countries as well. Ecuador’s trade reg ...
... nonpetroleum export earnings rose from less than 0.2 percent to 9 percent. An understanding of the country’s success in exporting flowers provides important insights into Ecuador’s economic past and perhaps its future, and it offers lessons for other developing countries as well. Ecuador’s trade reg ...
NBER WORKING PAPER SERIES IS THE U.S. CURRENT ACCOUNT DEFICIT
... “The United States is the only major country proclaiming itself indifferent to its currency value. In countries running persistent current account deficits, governments normally -- indeed must – reduce domestic consumption. But so far, the United States has relied on other countries to adjust their ...
... “The United States is the only major country proclaiming itself indifferent to its currency value. In countries running persistent current account deficits, governments normally -- indeed must – reduce domestic consumption. But so far, the United States has relied on other countries to adjust their ...
Optimal Budget Deficits
... debt” year by year, with the goal of setting it on a course for complete elimination by 2012. 2 Despite this widespread aversion to fiscal imbalance and government indebtedness, economists differ as to the potential costs and benefits of debt finance. Moreover, there is little agreement as to the pr ...
... debt” year by year, with the goal of setting it on a course for complete elimination by 2012. 2 Despite this widespread aversion to fiscal imbalance and government indebtedness, economists differ as to the potential costs and benefits of debt finance. Moreover, there is little agreement as to the pr ...
NBER WORKING PAPER SERIES ON THE CONNECTIONS BETWEEN INTERTEMPORAL AND INTRA-TEMPORAL TRADES
... are not completely mobile across sectors, then domestic output composition cannot change fully in response to a shock. So some of the adjustment must go through the current account channel. The relative importance of the current account channel depends on the degree of domestic labor market rigidity ...
... are not completely mobile across sectors, then domestic output composition cannot change fully in response to a shock. So some of the adjustment must go through the current account channel. The relative importance of the current account channel depends on the degree of domestic labor market rigidity ...
North-South Knowledge Spillovers and Growth
... not available domestically. Such flows of technology or knowledge are termed ‘knowledge spillovers’. For developing countries that do little, if any R&D themselves, knowledge spillovers are likely to be an important source of growth, allowing them to take advantage of knowledge produced elsewhere. I ...
... not available domestically. Such flows of technology or knowledge are termed ‘knowledge spillovers’. For developing countries that do little, if any R&D themselves, knowledge spillovers are likely to be an important source of growth, allowing them to take advantage of knowledge produced elsewhere. I ...
PDF
... Woglom in particular -- on whose collaborative research we draw in this paper. Helpful comments were provided by Jurgen von Hagen,.Torsten Persson, and Guido Tabellini. Views expressed are not necessarily those of the IMF. ...
... Woglom in particular -- on whose collaborative research we draw in this paper. Helpful comments were provided by Jurgen von Hagen,.Torsten Persson, and Guido Tabellini. Views expressed are not necessarily those of the IMF. ...
iii. quantitative restrictions
... which can be legitimately introduced and maintained by WTO Members, as long as they are applied in a WTO consistent manner. There is no agreed definition in the WTO of what constitutes a "non-tariff measure" nor a "non-tariff barrier" neither is there consistency in the way both terms have been used ...
... which can be legitimately introduced and maintained by WTO Members, as long as they are applied in a WTO consistent manner. There is no agreed definition in the WTO of what constitutes a "non-tariff measure" nor a "non-tariff barrier" neither is there consistency in the way both terms have been used ...
ASSESSING FISCAL SUSTAINABILITY
... level, as opposed say to zero, or to a higher but stable level, is, however, much less evident …” (p. 11)15. On the contrary, the second definition is looser than Domar’s one: an ever-growing undiscounted debt ratio is allowed. As the authors explain, “… this is because of discounting, which implies ...
... level, as opposed say to zero, or to a higher but stable level, is, however, much less evident …” (p. 11)15. On the contrary, the second definition is looser than Domar’s one: an ever-growing undiscounted debt ratio is allowed. As the authors explain, “… this is because of discounting, which implies ...
International Economics: Feenstra/Taylor 2/e
... “Exorbitant Privilege” The United States has since the 1980s been a net debtor with W = A − L < 0. Negative external wealth would lead to a deficit on net factor income from abroad with r*W= r* (A − L) < 0. Yet as we saw in the last chapter, U.S. net factor income from abroad has been positive throu ...
... “Exorbitant Privilege” The United States has since the 1980s been a net debtor with W = A − L < 0. Negative external wealth would lead to a deficit on net factor income from abroad with r*W= r* (A − L) < 0. Yet as we saw in the last chapter, U.S. net factor income from abroad has been positive throu ...
NBER WORKING PAPER SERIES Gordon H. Hanson Chong Xiang
... m, country j’s exports to country k are more likely to exceed country h’s exports to country k the lower are production costs in j relative to h, the closer to k is j relative to h, and the larger is the number of product varieties produced in j relative to h. Country j may produce more product vari ...
... m, country j’s exports to country k are more likely to exceed country h’s exports to country k the lower are production costs in j relative to h, the closer to k is j relative to h, and the larger is the number of product varieties produced in j relative to h. Country j may produce more product vari ...
Document
... • If the w/r is higher than point c, too much demand for capital, which exceeds its maximum. • If the capital-abundant foreign country has the endowment ratio k*, there is an overlap of possible w/r ratio in the two countries, DC. • Free trade may equalize factor prices. • If the foreign endowment r ...
... • If the w/r is higher than point c, too much demand for capital, which exceeds its maximum. • If the capital-abundant foreign country has the endowment ratio k*, there is an overlap of possible w/r ratio in the two countries, DC. • Free trade may equalize factor prices. • If the foreign endowment r ...
PDF Version - Federal Reserve Bank of Minneapolis
... being completely analogous to the consequences of restrictions on trade between any two goods. The models describe how borrowers and lenders are affected by controls and show that credit controls are not Pareto optimal; that is, there exist other arrangements that make everyone better off than they ...
... being completely analogous to the consequences of restrictions on trade between any two goods. The models describe how borrowers and lenders are affected by controls and show that credit controls are not Pareto optimal; that is, there exist other arrangements that make everyone better off than they ...
Sawyer/Sprinkle Chapter 18
... causes aggregate demand to decrease and the domestic currency to depreciate as the government increases taxes and/or reduces spending—the direct effect The contractionary fiscal policy increases aggregate demand as the currency depreciates and the current account balance to improve—the indirect effe ...
... causes aggregate demand to decrease and the domestic currency to depreciate as the government increases taxes and/or reduces spending—the direct effect The contractionary fiscal policy increases aggregate demand as the currency depreciates and the current account balance to improve—the indirect effe ...
Balance of trade
The commercial balance or net exports (sometimes symbolized as NX), is the difference between the monetary value of exports and imports of output in an economy over a certain period, measured in the currency of that economy. It is the relationship between a nation's imports and exports. A positive balance is known as a trade surplus if it consists of exporting more than is imported; a negative balance is referred to as a trade deficit or, informally, a trade gap. The balance of trade is sometimes divided into a goods and a services balance.