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Climate Change, Strict Pareto Improvements in Welfare and Multilateral Financial Transfers
In: CAMA Working Paper No. 103/2020
SSRN
Working paper
Non-preferential trading clubs
In: Journal of international economics, Band 68, Heft 1, S. 79-91
ISSN: 0022-1996
Tariff strategies and small open economies
In: The Canadian journal of economics: the journal of the Canadian Economics Association = Revue canadienne d'économique, Band 33, Heft 1, S. 25-40
ISSN: 1540-5982
In this paper we examine the issue of optimal tariffs for a small economy that trades with a large economy. We define 'small' and 'large' in the sense that the world prices are determined solely by the large country, and, therefore, the small country faces exogenously given world prices. Within this framework it is shown that there exist situations in which the small country has an incentive to behave as a Stackelberg leader by committing itself to a non‐zero optimal tariff. Although the small country is unable to directly affect world prices, by pre‐committing to a non‐zero trade tax it may induce a reduction of the large country's optimal trade tax, thereby indirectly improving its terms of trade and welfare. JEL Classification: F13, F35 Stratégies de droits de douane et petites économies ouvertes. Ce mémoire examine le problème des droits de douane optimaux pour une petite économie qui commerce avec une grande. On définit 'petit' et 'grand' en un sens économique: les prix mondiaux sont déterminés seulement par le grand pays et le petit pays fait face à des prix mondiaux exogènes. A l'intérieur de ce cadre d'analyse, les auteurs montrent qu'il existe des situations dans lesquelles le petit pays est incitéà se conduire en leader à la Stackelberg en s'engageant fermement dans une politique de droit de douane optimal différent de zéro. Même si le petit pays ne peut pas influencer directement les prix mondiaux, en adoptant une politique ferme de droits de douane positifs, il peut amener le grand pays à réduire son niveau de droit de douane optimal, et, ce faisant, améliorer ses propres termes d'échange et son propre niveau de bien‐être.
Separability and Aggregation
In: Economica, Band 57, Heft 226, S. 239
Facing Demographic Challenges: Pension Cuts or Tax Hikes
In: CESifo Working Paper Series No. 5644
SSRN
Facing Demographic Challenges: Pension Cuts or Tax Hikes
In this paper, we investigate two fiscal policy options to mitigate fiscal pressure arising from ageing of the Australian population: pension cuts or tax hikes. Using a computable overlapping generations model, we find that while both policy options achieve the same fiscal goal, the macroeconomic and welfare outcomes differ significantly. Future generations prefer pension cuts, whereas current generations prefer tax hikes to finance government spending commitments. Interestingly, taxing consumption or income results in opposing macroeconomic and welfare effects. Increases in the consumption tax rate have positive effects on labour supply, domestic assets and output (similar to pension cuts), but reduce the welfare of low income households most. Conversely, increases in progressive income or payroll taxes have negative effects on the economy but reduce the welfare of low income households least. Our results highlight the intra- and inter-generational conflicts of interest and political constraints when implementing any structural fiscal reforms.
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Multi-Product Exporters, Variable Markups and Exchange Rate Fluctuations
In: UNSW Australian School of Business Research Paper No. 2014-15
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Working paper
Multilateral policy reforms and quantity restrictions on trade
In: Journal of international economics, Band 52, Heft 1, S. 153-168
ISSN: 0022-1996
Recent Developments in Multilateral Policy Reform
In: The Canadian Journal of Economics, Band 29, S. S394
On the multilateral transfer problem
In: Journal of international economics, Band 25, Heft 3-4, S. 249-269
ISSN: 0022-1996
Nonlinear Means-Tested Pensions: Welfare and Distributional Analyses
In: UNSW Economics Working Paper 2023-04
SSRN
Growth, expectations and tariffs
In: The Canadian journal of economics: the journal of the Canadian Economics Association = Revue canadienne d'économique, Band 49, Heft 4, S. 1441-1469
ISSN: 1540-5982
AbstractWe present a growth model of international trade in which expectations about profitability and growth influence innovation and investment. Adaptive learning dynamics determine transition paths for countries with differing structural parameters. Countries limiting trade by tariffs on imports of capital goods can experience gains in growth and perceived utility for a finite time, whereas the rest of the world is adversely affected. Asymmetric gains persist longer when structural advantages of the country applying tariffs are larger. Substantial differences in levels of innovation, output and utility can appear within our asymmetric country setting.
Growth, Expectations and Tariffs
In: Bank of Finland Research Discussion Paper No. 9/2011
SSRN
Working paper
Growth, Expectations, and Tariffs
In: CESifo Working Paper Series No. 3435
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