Tariffs and the Macroeconomy: Some Empirical Evidence

International Monetary Fund

No 1989/070, IMF Working Papers from International Monetary Fund

Abstract: This paper examines the macroeconomic impact of tariffs. Existing theoretical models do not provide clear-cut predictions concerning the co-movement between unilateral tariff changes and a set of macroeconomic variables consisting of the real exchange rate, the trade balance, and the level of output. Three different data sets are found to be consistent with the hypothesis that tariffs have no statistically significant impact on the trade balance, the real exchange rate, or the level of output.

Keywords: WP; tariff rate; rate elasticity; tariff revenue; tariff shock; tariff proceeds; Tariffs; Trade balance; Real exchange rates; Imports; Exchange rates; Global (search for similar items in EconPapers)
Pages: 98
Date: 1989-01-01
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