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Tariff and Equilibrium Indeterminacy--A Note

Yan Zhang and Yan Chen

MPRA Paper from University Library of Munich, Germany

Abstract: We explore the equivalence between the factor income taxes (in Schmitt-Grohe and Uribe 1997) in the closed economy and the tariff in the open economy, in the sense that they share similar propagation mechanism of sunspot and fundamental shocks under a balanced-budget rule.

Keywords: Sunspots; Endogenous Tariff Rate; Comovement (search for similar items in EconPapers)
JEL-codes: F41 Q43 (search for similar items in EconPapers)
Date: 2008-06-12
New Economics Papers: this item is included in nep-dge and nep-opm
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:10044

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