Trade diversion is reversed in the long run

the study of short run and long run effects of trade liberalization on iran’s wheat import

abstract the present research accomplished to determination of the trade liberalization effects on import function of iran’s wheat crop using time series data from 1357 to 1387 that earn from sources such as agricultural and aerology statistics annual letter, customhouse and iran central bank website.in this investigation, at first, wheat liberalization index was measured by using level of inte...

On the Trade-off between Short Run Insurance Benefits vs. Long Run Incentive Costs

Is the Long-Run Labor Supply Vertical?

Growth theory and real-business-cycle theory virtually always assume that the long-run labor supply is vertical. This paper derives the restriction on preferences required for this assumption to hold and formulates an econometric method for testing this restriction. The restriction is then rejected using time-series data for the United States and many OECD countries. Some evidence against the r...

The Short and Long Run Causality between Agglomeration and Productivity

This study is to investigate the short- and long-run causal relationship between agglomeration (localization and urbanization) economies and labor productivity in the manufacturing sector of 28 Iranian provinces over an 11-year period, 2001–2011. Fully Modified Ordinary Least Squares (FMOLS) method was used to estimate our long-run panel data model. The empirical findings suggested that localiz...

How Powerful Is Monetary Policy in the Long Run?

The author is a senior economist in the macropolicy section of the Atlanta Fed's research department. He thanks Frank King for comments on an earlier version of this article and Steve Russell for detailed and thoughtful editorial suggestions.