| Author: | Calvo, G. Mendoza, E. |
| Title: | Trade reforms of uncertain duration and real uncertainty |
| Journal: | Staff Papers
1994 : DEC, VOL. 41:4, p. 555-586 |
| Index terms: | TRADE UNCERTAINTY TARIFFS |
| Language: | eng |
| Abstract: | This paper examines trade reforms of uncertain duration in economies affected by real shocks. These reforms induce consumption booms regardless of their duration and of the degree of intertemporal substitution. A recession may follow the boom, depending on the outcome of the reform and on whether government transfers offset wealth effects on tariffs. |
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