| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP30 |
| DP30 Tariffs, Employment and the Current Account: Real Wage Resistance and the Macroeconomics of Protectionism | |
| Sweder van Wijnbergen | |
| 发表日期 | 1984-10-01 |
| 出版年 | 1984 |
| 语种 | 英语 |
| 摘要 | Using a standard complete specialization model of a small open economy within a rigorous intertemporal optimization framework and with contract-based wage rigidity, we show that permanent tariffs lead to a current account deterioration and a fall in employment, contradicting most of the literature on macroeconomic effects of import tariffs. The crucial factor in this complete reversal of standard results is the impact of tariffs on domestic real product wages via wage indexation. Temporary tariffs will have less of a negative impact on the CA or potentially even a positive impact, because they increase the consumption rate of interest (the terms at which future consumption can be traded for current consumption) and so increase private savings. Extensions towards incorporating a more general production structure, investment and the use of tariff revenues to provide wage subsidies are presented. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Balance of payments Employment Tariffs Wage indexation |
| URL | https://cepr.org/publications/dp30 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529187 |
| 推荐引用方式 GB/T 7714 | Sweder van Wijnbergen. DP30 Tariffs, Employment and the Current Account: Real Wage Resistance and the Macroeconomics of Protectionism. 1984. |
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