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The macroeconomic effects of trade policy

Erceg, Christopher J.; Prestipino, Andrea; Raffo, Andrea - 2018 - This version: October 1, 2018

We study the short-run macroeconomic effects of trade policies that are equivalent in a friction-less economy, namely a … reduction (VP), and a border adjustment of corporate pro.t taxes (BAT). Using a dynamic New Keynesian open-economy framework, we …

Persistent link: https://www.econbiz.de/10011967395

Macroeconomic adjustment with segmented labor markets

Agénor, Pierre-Richard - 1994

Persistent link: https://www.econbiz.de/10000893878

Time inconsistency and free-riding in a monetary union

Chari, Varadarajan V.; Kehoe, Patrick J. - 2002

"We analyze the setting of monetary and nonmonetary policies in monetary unions. We show that in these unions a time inconsistency problem in monetary policy leads to a novel type of free-rider problem in the setting of nonmonetary policies, such as labor market policy, fiscal policy, and bank...