Shock Versus Gradualism in Models of Rational Expectations : The Case of Trade Liberalization /
This paper provides a new argument for 'shock' versus 'gradualism' in the implementation of trade policies. In the simple context of a small open economy with rational expectations, we consider the comparative welfare effects of eliminating an import tariff either immediately as...
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| Natura: | Periodico |
| Lingua: | English |
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Washington, D.C. :
International Monetary Fund,
1997.
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| Serie: | IMF Working Papers; Working Paper ;
No. 1997/122 |
| Accesso online: | Full text available on IMF |