| Budget Amount *help |
¥4,420,000 (Direct Cost: ¥3,400,000、Indirect Cost: ¥1,020,000)
Fiscal Year 2020: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2019: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2018: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
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| Outline of Final Research Achievements |
This study analyses the impact of import tariffs on the macroeconomic variables in a small open economy. We find that the retaliation against the import tariff shock initiated by a large open economy results in higher output and a lower reduction in the trade balance for a small open economy. However, the result is highly dependent on the size of that small open economy. When the country is large, the negative general equilibrium impact of the trade retaliation dominates and the welfare tends to be lower. Also, we find that the result depends on the exchange rate regime.
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