Value of WTO Trade Agreements in a New Keynesian Model /
We revisit the question of the quantitative benefits of WTO trade agreements in a setup that is non-standard from the traditional trade policy point of view. We show that in a New Keynesian model, unilateral trade liberalization reduces welfare due to terms-of-trade deterioration, creating an incent...
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| Format: | Czasopismo |
| Język: | English |
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Washington, D.C. :
International Monetary Fund,
2015.
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| Seria: | IMF Working Papers; Working Paper ;
No. 2015/037 |
| Dostęp online: | Full text available on IMF |