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"Getting Price Right", How Imporatnt is it?: A CGE Modeling Approach

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  • Manuel S. Gaspay

    (Asian Institute of Management)

Abstract

A dynamic computable general equilibrium (CGE) model of the Philippines, with alternative versions of fiscal policy behavior, is constructed to examine the neo-classical claim about the relationship between trade restrictions and economic performance. The results indicate that the economic output and income distribution influences of price distortion from tariffs are indeed modest. In the growth process, it is the government revenue role of tariffs that matters rather than the impact of tariffs on factor allocation efficiency. There must be consistency, therefore, between the government's fiscal policy and its trade liberalization program for the latter to be successfully implemented.

Suggested Citation

  • Manuel S. Gaspay, 1993. ""Getting Price Right", How Imporatnt is it?: A CGE Modeling Approach," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 30(2), pages 189-234, December.
    • Handle: RePEc:phs:prejrn:v:30:y:1993:i:2:p:189-234
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    File URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/144/463
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