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international trade, distorts production and reduces output. However, in a liquidity trap protectionism lowers the real interest …
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economy, because of favorable trade diversion effects. Second, simultaneous tariff increases between the US and CH and between …-CH trade tensions are negligible if the ELB is not binding, while they become negative if the ELB binds …
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In this article, the discussion on quality levels in the monetary search theoretical model is extended. By having quality levels endogenously determined, we found that whether money holders have quality preferences is crucial to the results. While the effect of the fraction of money on quality...
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