Chao, Chi-Chur; Hu, Shih-Wen; Lai, Ching-Chong; Tai, Meng-Yi - In: The North American Journal of Economics and Finance 24 (2013) C, pp. 63-73
Using a dynamic monetary model, this paper analyzes the short- and long-run impacts of a tariff-tax reform on the economy, with attention being paid to short-run fluctuations in exchange rates. When a policy reform is announced and if the public believe that it will decrease excess demand, the...