Ju, Jiandong; Shi, Kang; Wei, Shang-Jin - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2013
In partial equilibrium, a reduction in import barriers may be thought to lead to an increase in imports and a reduction in trade surplus. However, the general equilibrium effect can go in the opposite direction. We study how trade reforms affect current accounts by embedding a modified...