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External shocks, policy response and economic performance
Neary, J. Peter
This paper examines the responsiveness of real income and the balance of payments to external shocks in a small open economy. It is shown that tariff restrictions and age rigidities tend to increase responsiveness and quota restrictions tend to educe it. The implications for policy response are considered and a micro-theoretic foundation for the distinction between expenditure-reducing and expenditure-switching policies is provided. World Bank A hard copy is available in UCD Library at GEN 330.08 IR/UNI
Keyword(s): International trade policy; Tariffs and quotas; Domestic distortions; Shadow prices; External shocks; F13; F10; Commercial policy; States, Small--Economic conditions; Externalities (Economics)
Publication Date:
Type: Working paper
Peer-Reviewed: Unknown
Language(s): English
Institution: University College Dublin
Publisher(s): University College Dublin. School of Economics
File Format(s): other; application/pdf
First Indexed: 2012-08-25 05:22:06 Last Updated: 2018-10-11 15:42:43