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題名 Exchange Rate Pass-Through and the Effects of Tariffs on Economic Performance and Welfare
作者 黃俞寧
Hwang, Yu-Ning; Stephen J. Turnovsky
貢獻者 經濟系
關鍵詞 Tariffs; Nominal rigidity; Exchange rate pass-through; Expenditure switching effect
日期 2013.03
上傳時間 14-May-2014 17:49:16 (UTC+8)
摘要 We develop a stochastic two-country general equilibrium model, where prices are determined under conditions of monopolistic competition to examine the macroeconomic and welfare effects of tariffs on the world economy under alternative nominal rigidities: producer-currency pricing (PCP) and local-currency pricing (LCP) where the exchange rate pass-through is absent. We find that the significance of export pricing for the effects of tariffs depends critically upon whether tariffs are anticipated or unanticipated. In the former case both PCP and LCP yield the same outcome as do perfectly flexible prices, although the mechanism whereby this is achieved is different. In the latter case, the effects of unanticipated permanent tariffs are highly sensitive to the pricing scheme adopted by exporters, leading to a wide range of conflicting outcomes, involving tradeoffs among key parameters.
關聯 Journal of International Money and Finance, 33, 81-102
資料類型 article
DOI http://dx.doi.org/10.1016/j.jimonfin.2012.10.004
dc.contributor 經濟系en_US
dc.creator (作者) 黃俞寧zh_TW
dc.creator (作者) Hwang, Yu-Ning; Stephen J. Turnovskyen_US
dc.date (日期) 2013.03en_US
dc.date.accessioned 14-May-2014 17:49:16 (UTC+8)-
dc.date.available 14-May-2014 17:49:16 (UTC+8)-
dc.date.issued (上傳時間) 14-May-2014 17:49:16 (UTC+8)-
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/66034-
dc.description.abstract (摘要) We develop a stochastic two-country general equilibrium model, where prices are determined under conditions of monopolistic competition to examine the macroeconomic and welfare effects of tariffs on the world economy under alternative nominal rigidities: producer-currency pricing (PCP) and local-currency pricing (LCP) where the exchange rate pass-through is absent. We find that the significance of export pricing for the effects of tariffs depends critically upon whether tariffs are anticipated or unanticipated. In the former case both PCP and LCP yield the same outcome as do perfectly flexible prices, although the mechanism whereby this is achieved is different. In the latter case, the effects of unanticipated permanent tariffs are highly sensitive to the pricing scheme adopted by exporters, leading to a wide range of conflicting outcomes, involving tradeoffs among key parameters.en_US
dc.format.extent 301226 bytes-
dc.format.mimetype application/pdf-
dc.language.iso en_US-
dc.relation (關聯) Journal of International Money and Finance, 33, 81-102en_US
dc.subject (關鍵詞) Tariffs; Nominal rigidity; Exchange rate pass-through; Expenditure switching effecten_US
dc.title (題名) Exchange Rate Pass-Through and the Effects of Tariffs on Economic Performance and Welfareen_US
dc.type (資料類型) articleen
dc.identifier.doi (DOI) 10.1016/j.jimonfin.2012.10.004en_US
dc.doi.uri (DOI) http://dx.doi.org/10.1016/j.jimonfin.2012.10.004en_US