| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2958 |
| DP2958 Limiting Currency Volatility to Stimulate Goods Market Integration: a Price-Based Approach | |
| Shang-Jin Wei; David Parsley | |
| 发表日期 | 2001-09-19 |
| 出版年 | 2001 |
| 语种 | 英语 |
| 摘要 | Can a government induce efficiency gains in domestic industry by protecting it against foreign competition? Would such trade protection be time-consistent? The present Paper builds a dynamic equilibrium model that accounts for learning-by-doing effects that link firms' strategies over time. The model shows that the existence of dynamic economies of scale suffices to overcome the traditional government's lack of commitment to its tariff policy. This Paper compares the infinite horizon Markov Perfect Equilibria of this game with the dynamic equilibrium under commitment as well as the static Nash equilibrium. Equilibrium strategies are derived in closed form by solving a linear-quadratic differential game. Optimal trade policy involves higher tariff levels than in the static setup in order to account for future gains in efficiency. |
| 主题 | Industrial Organization ; International Trade and Regional Economics |
| 关键词 | Infant-industry Tariff protection Infinite horizon markov perfect equilibria Linear-quadratic differential game |
| URL | https://cepr.org/publications/dp2958 |
| 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/531990 |
| 推荐引用方式 GB/T 7714 | Shang-Jin Wei,David Parsley. DP2958 Limiting Currency Volatility to Stimulate Goods Market Integration: a Price-Based Approach. 2001. |
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