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Tariffs, Trade and Unemployment in a Disequilibrium Model: issues and policies

Author

Listed:
  • Jean-Luc Gaffard

    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique)

  • Francesco Saraceno

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

Abstract

This paper studies the disequilibrium transition process engaged by increased openness to trade, and the effect of institutions, market behaviors and economic policies on that transition. The issue is analyzed with a simple two country (north and south), two goods model, amended in order to take into account the time dimension of both the production and the decision processes. Investigating the consequences of a tariff decrease by means of numerical simulations, we show to what extent wage and price setting, and the degree of tightness of monetary policy affect the outcome of the disequilibrium process. The main result is that capturing the gains associated with international trade requires market behaviors and economic policies, which are rather different from what is usually prescribed.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Jean-Luc Gaffard & Francesco Saraceno, 2008. "Tariffs, Trade and Unemployment in a Disequilibrium Model: issues and policies," Sciences Po Economics Publications (main) halshs-00375514, HAL.
    • Handle: RePEc:hal:spmain:halshs-00375514
    DOI: 10.1007/s00191-007-0088-y
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    Cited by:

    1. Jean-Luc Gaffard, 2011. "Compétitivité des territoires et stratégies de localisation des entreprises : les heurts de la mondialisation," Sciences Po Economics Publications (main) hal-01024497, HAL.
    2. Patriarca, Fabrizio & Vona, Francesco, 2013. "Structural change and income distribution: An inverted-U relationship," Journal of Economic Dynamics and Control, Elsevier, vol. 37(8), pages 1641-1658.
    3. repec:spo:wpmain:info:hdl:2441/4ip86c7fo58bj979c67ml0ohqh is not listed on IDEAS
    4. repec:spo:wpecon:info:hdl:2441/eu4vqp9ompqllr09i62c7761k is not listed on IDEAS
    5. repec:spo:wpmain:info:hdl:2441/eu4vqp9ompqllr09i62c7761k is not listed on IDEAS
    6. Mario Amendola & Jean-Luc Gaffard & Fabrizio Patriarca, 2017. "Inequality and growth: the perverse relation between the productive and the non-productive assets of the economy," Journal of Evolutionary Economics, Springer, vol. 27(3), pages 531-554, July.
    7. Mario Amendola & Jean Luc Gaffard & Fabrizio Patriarca, 2015. "Inequality and Growth : the perverse relation between the productivity and the non-productive assets of the economy," Documents de Travail de l'OFCE 2015-28, Observatoire Francais des Conjonctures Economiques (OFCE).

    More about this item

    Keywords

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    JEL classification:

    • F11 - International Economics - - Trade - - - Neoclassical Models of Trade
    • F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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