On the welfare implications of customs unions in the presence of finance constraints
Publication in refereed journal


香港中文大学研究人员 ( 现职)

叶创基教授 (经济学系)

全文

数位物件识别号 (DOI) http://dx.doi.org/10.1111/1467-9957.00240

引用次数
Web of Sciencehttp://aims.cuhk.edu.hk/converis/portal/Publication/0WOS source URL

其它资讯

摘要We examine the welfare effects of a customs union on a small monetary economy. The role of money is captured by a generalized cash-in-advance constraint which allows for non-uniform monetization across sectors. This generates a demand-side distortion which results in a discrepancy between the marginal domestic rate of substitution and the world price. We show that, depending on the economy's inflation rate and the difference between the existing and the optimal tariff rate, trade creation may reduce welfare while trade diversion may improve it.

着者Palivos T, Yip CK
期刊名称Manchester School
出版年份2http://aims.cuhk.edu.hk/converis/portal/Publication/0http://aims.cuhk.edu.hk/converis/portal/Publication/01
月份3
日期1
卷号69
期次2
出版社BLACKWELL PUBL LTD
页次164 - 178
国际标準期刊号1463-6786
语言英式英语

Web of Science 学科类别Business & Economics; Economics; ECONOMICS