External shocks, policy response and economic performance

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Title: External shocks, policy response and economic performance
Authors: Neary, J. Peter
Permanent link: http://hdl.handle.net/10197/1740
Date: 11-Sep-1993
Abstract: 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.
Funding Details: World Bank
Type of material: Working Paper
Publisher: University College Dublin. School of Economics
Series/Report no.: UCD Centre for Economic Research Working Paper Series; WP93/28
Keywords: International trade policyTariffs and quotasDomestic distortionsShadow pricesExternal shocks
Subject LCSH: Commercial policy
States, Small--Economic conditions
Externalities (Economics)
Language: en
Status of Item: Not peer reviewed
Appears in Collections:Economics Working Papers & Policy Papers

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