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• W2012057210 abstract "Abstract The effects of trade liberalizations are studied for a small open economy in a model with durable goods. A trade liberalization increases the permanent income of the representative agent, because it removes trade distortions. The increase in permanent income leads to a corresponding increase in the steady state stock of durable goods, and a fall in labor supply. The fall in labor input reduces investment, which tends to generate a current account surplus. To increase the stock of durables savings falls, which tend to generate a current account deficit. The adjustment of the current account will likely be non-monotonic." @default.
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• W2012057210 date "2010-12-01" @default.
• W2012057210 modified "2023-09-23" @default.
• W2012057210 title "On the employment, investment, and current account effects of trade liberalizations with durability in consumption" @default.
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• W2012057210 doi "https://doi.org/10.1016/j.najef.2010.04.001" @default.
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