The composition of exports and the impact of economies policies

Author(s): Worrell, DeLisle (1986)

Created 22 Jul, 1986
Categories Working Papers Delisle Worrell
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This paper describes a model which embodies characteristics typical of the small Caribbean economies. It focuses on a breakdown on export industries to reflect the varying arrangements under which they are marketed, and the range of elasticities of response to prices and changes in the level of activity. The model is used to explore the effects of fiscal, monetary and exchange rate policies on the growth of the balance of payments, inflation and the employment in Caribbean economies. The paper provides a description of the model with an exploration of the policy adjustment mechanism embodied in the model. It also gives examples of the magnitude of policy effects, drawing on empirical tests for Caribbean countries and discusses refinements and developments to be undertaken with the model. (The papers are still in draft and are subject to revision. Not to be quoted or reproduced without the expressed permission of the authors)

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