Hidden Bibliographic Details
| Other authors / contributors: | George, Susan Mary, 1960-
IMF Institute.
|
|---|
| ISBN: | 1451899793
9781451899795
1462393292
9781462393299
1452729034
9781452729039
1282107623
9781282107625
9786613800978
661380097X
|
|---|
| Notes: | Includes bibliographical references (page 17).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
|
|---|
| Summary: | Annotation 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 an unanticipated shock, or gradually over a preannounced length of time. the gradualist policy introduces a distortion in consumption-accumulation decisions and generates welfare costs. and if the gradual change is extended over too long a period, these costs may exceed the long-run benefits of liberalization.
|
|---|
| Other form: | Print version: Auernheimer, Leonardo, 1936- Shock versus gradualism in models of rational expectations. [Washington, D.C.] : International Monetary Fund, IMF Institute, ©1997
|
|---|
| Standard no.: | 10.5089/9781451899795.001
|
|---|
