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The paper examines policy externalities between imperfectly competitive open economies where unemployment prevails in general equilibrium. We develop a two-country and two-sector model with monopolistic competition in the goods market and wage bargaining in the labor market. Policy externalities...
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applying standard trade theory, the result indicates that either unilateral imposition of additional tariffs or bilateral …
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to use contingent tariffs to control import surges of food commodities and/or downward spikes in their border prices. The …
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