Effects of Macroeconomic Policies on Sectoral Prices
提出一个分析框架，先追踪宏观政策如何影响出口、进口和国内商品的相对价格，再考虑各部门的“可贸易程度”，并应用于阿根廷贸易自由化模拟，发现宏观政策对实际汇率和农业出口激励有显著负面影响。
The effect of macroeconomic policies on the relative prices of internationally traded and domestic goods has been the subject of extensive study. Analysis of the way in which these policies then affect prices at the sectoral level is complicated by the heterogeneity of sectoral production: even the prices of single products usually are determined by both domestic and traded components. We present a framework which first traces the influence of macropolicy on the relative prices of exports, imports, and home goods. It then accounts for each sector's degree of “tradability,” which is based on the importance of trade in sectoral income, and the influence of macroeconomic policy on sectoral prices. To illustrate the use of this approach, it is applied to a simulation of trade liberalization in Argentina. Our results suggest that economywide policies had substantial negative effects on both the real exchange rate and the incentives to agricultural exports.