It takes the average reader and 20 minutes to read Shock Versus Gradualism in Models of Rational Expectations by Ms.Susan Mary George
Assuming a reading speed of 250 words per minute. Learn more
This paper provides a new argument for “shock” versus “gradualism” in the implementation of trade policies. In the simple context of a small open economy with rational expectations, we consider the comparative welfare effects of eliminating an import tariff either immediately as an unanticipated shock, or gradually over a preannounced length of time. The gradualist policy introduces a distortion in consumption-accumulation decisions and generates welfare costs. And if the gradual change is extended over “too long” a period, these costs may exceed the long-run benefits of liberalization.
Shock Versus Gradualism in Models of Rational Expectations by Ms.Susan Mary George is 20 pages long, and a total of 5,000 words.
This makes it 7% the length of the average book. It also has 6% more words than the average book.
The average oral reading speed is 183 words per minute. This means it takes and 27 minutes to read Shock Versus Gradualism in Models of Rational Expectations aloud.
Shock Versus Gradualism in Models of Rational Expectations is suitable for students ages 8 and up.
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