The UvA-LINKER will give you a range of other options to find the full text of a publication (including a direct link to the full-text if it is located on another database on the internet).
De UvA-LINKER biedt mogelijkheden om een publicatie elders te vinden (inclusief een directe link naar de publicatie online als deze beschikbaar is in een database op het internet).
faculty: "FEB" and publication year: "1992"
| Author||S.J.G. van Wijnbergen|
|Title||Trade reform, policy uncertainty, and the current account: a non expected-utility approach|
|Journal||American Economic Review|
|Issue||3 - jun|
|Faculty||Faculty of Economics and Business|
|Institute/dept.||FEB: Amsterdam School of Economics Research Institute (ASE-RI)|
|Keywords||Elasticity (Economics); Utility; United States; International Trade; Risk-aversion|
|Abstract||Rapid and comprehensive reduction in barriers to international trade has often been followed by a sharp deterioration in the current account. The macroeconomic counterpart of the deterioration has typically been a decline in private savings; no clear response pattern has been observed for private investment. This article observes anticipated policy reversal may explain a decline in private savings for the same reason gradual tariff reduction causes private savings to go up. Temporarily low tariffs lower the relative price of current goods in terms of future goods and thus tend to depress private savings. An anticipated future tariff increase will increase current consumption if the intertemporal substitution elasticity is larger than 1. If consumers internalize the impact of future tariff revenues on their after-tax income, the savings impact will always be negative, even for an intertemporal substitution elasticity below 1. In the standard expected-utility approach, risk aversion is low when intertemporal substitution is high, because the relevant elasticities are each other's inverse.|
Use this url to link to this page: http://dare.uva.nl/en/record/127416
Contact us about this recordNotify a colleague
Add to bookbag