| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4166 |
| DP4166 Rules of Origin in North-South Preferential Trading Arrangements with an Application to NAFTA | |
| Jaime de Melo; Akiko Suwa-Eisenmann; Olivier Cadot; Antoni Estevadeordal; José Anson; Bolormaa Tumurchudur | |
| 发表日期 | 2003-12-23 |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | In this Paper we present a simple, theory-based measure of the variations in aggregate economic efficiency that is based on the difference between the marginal product of labour and the household?s consumption/leisure trade-off. We show that this indicator corresponds to the inverse of the mark-up of price over social marginal cost and give some evidence in support of this interpretation. We then show that this indicator may be used to measure the efficiency costs of business fluctuations. We find that the efficiency costs of fluctuations are modest on average. The major recessions involve significant welfare losses, however, even after netting out the gains from the preceding boom. These results hold for reasonable parameterizations of both the Frisch elasticity of labour supply and the coefficient of relative risk aversion. |
| 主题 | International Macroeconomics |
| 关键词 | Business cycles Countercyclical mark-ups Welfare costs |
| URL | https://cepr.org/publications/dp4166 |
| 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/533135 |
| 推荐引用方式 GB/T 7714 | Jaime de Melo,Akiko Suwa-Eisenmann,Olivier Cadot,et al. DP4166 Rules of Origin in North-South Preferential Trading Arrangements with an Application to NAFTA. 2003. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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