| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15805 |
| DP15805 The Welfare Cost of a Current Account Imbalance: A 'Clean' Channel | |
| Jungho Lee; Shang-Jin Wei; Jianhuan Xu | |
| 发表日期 | 2021-02-11 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | A current account surplus is associated with a welfare loss, according to the existing open-economy macroeconomics literature, only when there are distortions in either savings or investment. We propose a new source of welfare loss even in the absence of such distortions. In particular, a trade surplus, the largest component of a current account surplus for most countries, can alter the shipping costs and the composition of a country's imports and exports in ways that tend to raise the pollution level of the country. Thus, when its pollution tax is low, a trade surplus can produce a welfare loss outside the standard channels. |
| 主题 | Development Economics ; International Macroeconomics and Finance ; International Trade and Regional Economics |
| 关键词 | Trade surplus Pollution And transportation cost |
| URL | https://cepr.org/publications/dp15805 |
| 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/544804 |
| 推荐引用方式 GB/T 7714 | Jungho Lee,Shang-Jin Wei,Jianhuan Xu. DP15805 The Welfare Cost of a Current Account Imbalance: A 'Clean' Channel. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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