题名

保護性關稅的效應:以隨機新開放總體經濟模型為理論基礎

并列篇名

Effects of Protective Tariff: An Examination of Stochastic NOEM Model

作者

賴宗福(Chung-Fu Lai)

关键词

隨機新開放總體經濟模型 ; 隨機性關稅 ; 福利分析 ; 政策協調 ; Stochastic NOEM ; Stochastic Tariff ; Welfare Analysis ; Policy Coordination

期刊名称

多國籍企業管理評論

卷期/出版年月

4卷1期(2010 / 03 / 01)

页次

173 - 192

内容语文

繁體中文

中文摘要

本文與既有文獻不同之處,在於本文乃延伸隨機新開放總體經濟模型之架構,並將貨幣以現金付現法方式融入模型中,研究保護性關稅對開放總體經濟變數的影響。我們得到隨機性關稅的提高會造成工資水準下降、國內商品價格攀升、消費減少、貿易條件惡化以及匯率下降的結論,且由於隨機性關稅深化了各國間貿易的障礙,因此一國的福利水準會降低。與Fender and Yip (2000)的結論相比,本文發現隨機性關稅增加了經濟體系中的不確定性因素,因而造成消費的波動程度提高,導致福利水準下降。最後,本文也就關稅政策協調的福利效果進行分析。

英文摘要

Different from past related literature, this research extends stochastic new open economy macroeconomics model with a cash-in-advance restriction to study the effects of protective tariff. In this paper, we show that the increase in stochastic tariff will reduce wage level, and decrease in consumption due to higher domestic price, price inflation worsens the terms of trade and cause the exchange rate to fall. Moreover, an increase in stochastic tariff will make the trade barriers deepen, and decrease in welfare. To compare our findings with the study of Fender and Yip (2000), we found that the stochastic tariff may increase economic uncertainty, as well as increase in consumption variability, lead to a decline in the welfare. Finally, the welfare effect of tariff policy coordination is also considered.

主题分类 社會科學 > 管理學
参考文献
  1. 林鴻裕(2003)。重回貨幣危機問題—新開放總體經濟模型的應用。經濟論文,31(2),207-228。
    連結:
  2. 賴宗福(2009)。運輸成本對小型開放經濟體系的影響。運輸學刊,21(3),279-298。
    連結:
  3. Kollmann, R. (1997). The exchange rate in a dynamic-optimizing current account model with nominal rigidities: A quantitative investigation. Working Paper WP/97/07,International Monetary Fund.
  4. Devereux, M. B. and Engel, C. (1998). Fixed vs. floating exchange rates: How price setting affects the optimal choice of exchange-rate regime. Working Paper No. 6867, National Bureau of Economic Research.
  5. Bettendorf, L. and Heijdra, B. (1999). Intergenerational and international welfare leakages of a tariff in a small open economy.CCSO Working Papers 199910, University of Groningen.
  6. Rama, M. (1993). How labor markets and imperfect competition affect tariff policy. Working Paper, Policy Research Department. The World Bank.
  7. Batra, R. N.,Ramachandran, R.(1980).Tariffs, the terms of trade and domestic prices in a monetary economy.Review of Economic Studies,47,456-463.
  8. Betts, C.,Devereux, M. B.(1996).The exchange rate in a model of pricing to market.European Economic Review,40,1007-1021.
  9. Bhanadari, J.(ed.)(1985).Exchange Rate Management Under Uncertainty.The MIT Press.
  10. Calvo, G. A.(1983).Staggered prices in a utility-maximizing framework.Journal of Monetary Economics,12,383-398.
  11. Calvo, G. A.(1987).Balance of payments crises in a cash-in-advance economy.Journal of Money, Credit and Banking,19,19-32.
  12. Canzoneri, M. B.,Cumby, R. E.,Diba, B. T.(2005).The need for international policy coordination: What's old, what's new, what's yet to come?.Journal of International Economics,66,363-384.
  13. Cavallo, M.,Ghironi, F.(2002).Net foreign assets and the exchange rates: Redux revived.Journal of Monetary Economics,49,1057-1097.
  14. Cooper, R. N.(1968).The relevance of international liquidity to developed countries.American Economic Review,58,625-636.
  15. Cooper, R. N.(1969).Macroeconomic policy adjustment in interdependent economies.Quarterly Journal of Economics,83,1-24.
  16. Corsetti, G.,Pesenti, P.(2001).Welfare and macroeconomic interdependence.Quarterly Journal of Economics,116,421-445.
  17. Coutinho, L.(2005).Fiscal policy in the New Open Economy Macroeconomics and prospects for Fiscal policy coordination.Journal of Economic Surveys,19,789-822.
  18. Devadoss, S.,Lanclos, K.(2000).Trade in imperfectly competitive industries: The role of market size and consumer preferences.Applied Economics,32,1189-1200.
  19. Devereux, M. B.(1999).A simple dynamic general equilibrium model of the trade-off between fixed and floating exchange rates.mimeo:University of British Columbia.
  20. Edwards, S.,van Wijnbergen, S.(1987).Tariffs, the real exchange rate and the terms of trade: On two popular positions in international economics.Oxford Economic Papers,39,458-464.
  21. Eichengreen, B.(1981).A dynamic model of tariffs, output, and employment under flexible exchange rates.Journal of International Economics,11,341-359.
  22. Fender, J.,Yip, K. C.(2000).Tariffs and exchange rate dynamics redux.Journal of International Money and Finance,19,633-655.
  23. Hamada, K.(1976).A strategic analysis of monetary interdependence.Journal of Political Economy,84,677-700.
  24. Hau, H.(2000).Exchange rate determination: The role of factor price rigidities and nontradeables.Journal of International Economics,50,421-447.
  25. Ikeda, S.(2003).Tariffs, time preference, and the current account under weakly nonseparable preferences.Review of International Economics,11,101-113.
  26. Ireland, P.(1996).The role of countercyclical monetary policy.Journal of Political Economy,104,704-723.
  27. Lane, P. R.(1997).Inflation in open economies.Journal of International Economics,42,327-347.
  28. Levhari, D.,Patinkin, D.(1968).The role of money in a simple growth model.American Economic Review,58,713-753.
  29. McCallum, B. T.,Goodfriend, M. S.(1988).Theoretical analysis of the demand for money.Economic Review, Federal Reserve Bank of Richmond,January/February,16-24.
  30. Meade, J. E.(1951).The theory of international economics policy. Vol. I: The balance of payments.London:Oxford University Press.
  31. Obstfeld, M.,Rogoff, K.(2000).New directions for stochastic open economy models.Journal of International Economics,50,117-153.
  32. Obstfeld, M.,Rogoff, K.(1995).Exchange rate dynamics redux.Journal of Political Economy,103,624-660.
  33. Obstfeld, M.,Rogoff, K.(2002).Global implications of self-oriented national monetary rules.Quarterly Journal of Economics,117,503-535.
  34. Razin, A.,Svensson, L. E. O.(1983).Trade taxes and the current account.Economics Letters,13,55-57.
  35. Rogoff, K.(1985).Can international monetary policy cooperation be counterproductive?.Journal of International Economics,18,199-217.
  36. Sauernheimer, K.(1986).Tariffs, imported inputs and employment.Economica,53,393-399.
  37. Saving, T. R.(1971).Transactions costs and the demand for money.American Economic Review,61,407-420.
  38. Sidrauski, M.(1967).Rational choice and patterns of growth in a monetary economy.American Economic Review,57,534-544.
  39. Stockman, A. C.(1981).Anticipated inflation and the capital stock in a cash-in-advance economy.Journal of Monetary Economics,8,387-393.
  40. Sutherland, A.(1996).Financial market integration and macroeconomic volatility.Scandinavian Journal of Economics,98,521-539.
  41. Svensson, L. E. O.(1985).Money and asset prices in a cash-in-advance economy.Journal of Political Economy,93,919-944.
  42. Tille, C.(2001).The role of consumption substitutability in the international transmission of shocks.Journal of International Economics,53,421-444.
  43. Tower, E.(1973).Commercial policy under fixed and flexible exchange rates.Quarterly Journal of Economics,87,436-454.
  44. Van Wijnbergen, S.(1987).Tariffs, employment and the current account: Real wage resistance and the macroeconomics of protectionism.International Economic Review,28(3),691-706.