Contrary to usual expectations, it can be shown that the aggregate output can increase from the imposition of a uniform tariff rate and that the 5% uniform tariff rate improves resource allocation within the tradable sectors due to relative price changes. This is done through the Trade model...

This paper provides the most recent estimates of the basic parameters in shadow pricing, namely the shadow exchange rate, the marginal productivity of capital and the opportunity costs. It also enumerates the procedures for parameter estimation for future use. It clarifies the differences...

Free trade agreements (FTAs) have been proliferating in Asia since the late '90s and show no sign of abating. The ASEAN +3 model should ideally serve as the starting point because of existing linkages in the real and monetary sectors. Nevertheless, what have emerged are six ASEAN +1 initiatives....

Contrary to usual expectations, it can be shown that the aggregate output can increase from the imposition of a uniform tariff rate and that the 5% uniform tariff rate improves resource allocation within the tradable sectors due to relative price changes. This is done through the Trade model...