EFFECTS OF EXCHANGE RATE AND TARIFFS ON AN OPEN ECONOMY OF SCARCITY OF CAPITAL |
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| Authors: | Hu Zhineng Xu JiupingDeptof ApplMath Sichuan Univ Chengdu |
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| Institution: | Hu Zhineng Xu JiupingDept.of Appl.Math.,Sichuan Univ.,Chengdu 610065. |
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| Abstract: | In this paper, the impact of tariffs and exchange rate on consumption and investment in an open economy of scarcity of capital is analysed.The dynamics and market price of capital,and the solution of foreign asset holding of the firm are discussed.Particular attention is also devoted to the social welfare aspects. |
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| Keywords: | Open economy exchange rate tariff welfare |
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