Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/46808
Authors: 
Giersch, Herbert
Year of Publication: 
1986
Series/Report no.: 
Kiel Working Paper 275
Abstract: 
This paper is an attempt to bring the two sides together. It will demonstrate, on the, one hand, - that internal and external liberalisation of trade in goods and services does substantially raise potential output and its growth path and - that it, therefore, pays to anticipate these gains in conceiving and conducting macro-economic policies. On the other hand, it will be argued that a macro-economic policy that is trade oriented and forward looking in this sense would allow trade negotiators and deregulators to deemphasise the direct losses of output and employment expected from removing restrictions and to anticipate a pull of demand that will facilitate the transfer of resources to alternative uses.
Document Type: 
Working Paper

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