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Commercial Policy under Fixed and Flexible Exchange Rates

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  • Edward Tower

Abstract

I. Is devaluation deflationary? 437. — II. The Keynesian model, 442. — III. Commercial policy under fixed rates, 446. — IV. Commercial policy under flexible rates, 449. — V. The terms-of-trade effect can be zero or negative, 452. — VI. Concluding remarks, 453.

Suggested Citation

  • Edward Tower, 1973. "Commercial Policy under Fixed and Flexible Exchange Rates," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 87(3), pages 436-454.
    • Handle: RePEc:oup:qjecon:v:87:y:1973:i:3:p:436-454.
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    File URL: http://hdl.handle.net/10.2307/1882014
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    Cited by:

    1. Chung-Fu Lai, 2016. "Tariff, Consumption Home Bias and Macroeconomic Dynamics," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 6(8), pages 425-444, August.
    2. S. Murshed, 1992. "Comparing quotas with VERs: A three-region, North-South-NICs macroeconomic analysis," Open Economies Review, Springer, vol. 3(3), pages 255-270, October.
    3. Per-Olov Johansson & Karl-Gustaf Löfgren, 1981. "A note on employment effects of tariffs in a small open economy," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 117(3), pages 578-583, September.
    4. Barry Eichengreen, 2019. "Trade Policy and the Macroeconomy," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 67(1), pages 4-23, March.

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