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|z 9781484306116
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|a 1018-5941
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|a BD-DhAAL
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|a Linde, Jesper.
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|a The Macroeconomic Effects of Trade Tariffs :
|b Revisiting the Lerner Symmetry Result /
|c Jesper Linde, Andrea Pescatori.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2017.
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|a 1 online resource (54 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a We study the robustness of the Lerner symmetry result in an open economy New Keynesian model with price rigidities. While the Lerner symmetry result of no real effects of a combined import tariff and export subsidy holds up approximately for a number of alternative assumptions, we obtain quantitatively important long-term deviations under complete international asset markets. Direct pass-through of tariffs and subsidies to prices and slow exchange rate adjustment can also generate significant short-term deviations from Lerner. Finally, we quantify the macroeconomic costs of a trade war and find that they can be substantial, with permanently lower income and trade volumes. However, a fully symmetric retaliation to a unilaterally imposed border adjustment tax can prevent any real or nominal effects.
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|a Mode of access: Internet
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|a Pescatori, Andrea.
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|a IMF Working Papers; Working Paper ;
|v No. 2017/151
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2017/151/001.2017.issue-151-en.xml
|z IMF e-Library
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