| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP882 |
| DP882 Search, Concave Production, and Optimal Firm Size | |
| Eric Smith | |
| 发表日期 | 1994-01-31 |
| 出版年 | 1994 |
| 语种 | 英语 |
| 摘要 | We study the dynamics of optimal trade policy in a model with costly inter-sectoral adjustment of labour, where migrants pay less than the marginal social cost of migration. If workers have rational expectations, a future tariff has an announcement effect on the current migration decision. If the government is able to commit itself to future policy, the optimal trajectory involves phasing in and then phasing out protection of the dying sector. This contrasts with recommendations of gradual liberalization. Without the ability to make commitments, the equilibrium policy begins with and maintains free trade. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Adjustment costs Dynamic tariffs Markov perfection Time inconsistency |
| URL | https://cepr.org/publications/dp882 |
| 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/530030 |
| 推荐引用方式 GB/T 7714 | Eric Smith. DP882 Search, Concave Production, and Optimal Firm Size. 1994. |
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