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Trade Liberalization, Macroeconomic Adjustment, and Welfare; Unifying Trade and Macro Models

Choudhri, Ehsan U.; Faruqee, Hamid; Tokarick, Stephen - International Monetary Fund (IMF) - 2006

Trade liberalization leads to long-run gains, but it can also involve costly short-run macroeconomic adjustment. The … elements of both international trade and macroeconomic models. The welfare effect of trade liberalization is decomposed into a …

Persistent link: https://www.econbiz.de/10011242371

Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies

Mendoza, Enrique G. - International Monetary Fund (IMF) - 2006

This paper shows that the dominant view that the high variability of real exchange rates is due to movements in exchange rate-adjusted prices of tradable goods does not hold for Mexican data for periods with a managed exchange rate. The relative price of nontradables accounts for up to 70...

Persistent link: https://www.econbiz.de/10005264110