運輸成本對小型開放經濟體系的影響

Effects of Transportation Costs in a Small Open Economy

本文遵循新開放總體經濟模型的架構，建構一個具有個體基礎、價格粘性與不完全競爭特性的小型開放經濟體系，探討運輸成本對各總體經濟變數（例如：消費水準、產出水準、物價指數及匯率）的長、短期效果，並評估運輸成本對一國福利的影響。研究所獲得的結論如下：第一、就長期而言，本國運輸成本的增加，將會使得產出、物價指數及匯率上揚，但消費下降。第二、就短期而言，面對運輸成本的變動，本國價格指數、匯率及消費將立即調整到長期的水準。第三、若商品間的替代彈性為一時，本國運輸成本增加將會使得本國福利水準下降。

Based on the framework of "New Open Economy Macroeconomics" model, this research develops a small open country model with micro-foundations, price stickiness and monopolistic competition to discuss the impacts of change in transportation cost on aggregate variables (e.g., consumption, output, price, and exchange rate) under the long-run and short-run. This research also evaluates the effects of transportation costs on national welfare. There are three main findings presented in this paper. First, if prices are flexible, an increase in transportation cost of home country will increase output, price level and exchange rate, but decrease consumption. Second, if prices are sticky, consumption, price level and exchange rate will jump immediately to its' long-run equilibrium following changes of transportation cost. Third, when the substitution elasticity equals 1, an increase in transportation cost of home country will decrease domestic welfare.