The macroeconomic effects of trade tariffs: Revisiting the Lerner symmetry result
We study the robustness of the Lerner symmetry result in an open economy New Keynesian model with price rigidities. While the Lerner symmetry result, i.e. the absence of allocative and trade-flow effects of an equally-sized change in import tariff and export subsidy, holds up approximately for a num...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Elsevier Ltd
2019
|
| Subjects: | |
| Online Access: | View Fulltext in Publisher |