شرط بندی در برابر مهندسی مالی هزینه اجتماعی دولت
|کد مقاله||سال انتشار||مقاله انگلیسی||ترجمه فارسی||تعداد کلمات|
|51244||2000||15 صفحه PDF||سفارش دهید||4803 کلمه|
Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)
Journal : Journal of International Economics, Volume 51, Issue 1, June 2000, Pages 5–19
The central question raised in this paper is the desirability of state-contingent contracts under imperfect policy credibility. The paper shows a benchmark case in which imperfect credibility of a trade liberalization program is distorting, and the distortion is magnified by state-contingent markets. In addition, it examines the welfare implications of gaining credibility, concluding that, in general, more credibility is better than less, and examines the more hazard faced by policymakers in carrying out reform in case the private sector is able to obtain insurance against its discontinuation.