On the Dynamics of Trade Reform

Rui Albuquerque () and Sergio Rebelo ()

No 6700, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: The empirical evidence on trade reforms suggests that these have a surprisingly small impact on the country's industrial configuration. This industrial structure inertia is difficult to rationalize in standard trade models. This paper develops a two-sector industry dynamics model in which industrial composition inertia arises naturally. The model is then used to study the consequences of different types of trade reforms (e.g. permanent, temporary, gradual, pre-announced) on investment, employment composition, and income distribution.

JEL-codes: F11 (search for similar items in EconPapers)
Date: 1998-08
Note: EFG ITI
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Journal Article: On the dynamics of trade reform (2000)
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