Lecture notes in international trade theory: classical trade and applications
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
New Jersey
World Scientific Publishing
[2022]
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| Schriftenreihe: | World Scientific lecture notes in economics and policy
vol. 10 |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | xviii, 284 Seiten |
| ISBN: | 9789811249860 |
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Datensatz im Suchindex
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| adam_text | Contents Preface vii About the Author xi About the Book xiii 1. Introduction 1 2. Ricardian Model 2.1 Introduction.................................................................. 2.2 Technology and Markets............................................. 2.2.1 Commodity prices............................................. 2.3 Relative Prices Under Free Trade.............................. 2.4 Wages in the Two Countries....................................... 2.5 Trade............................................................................... 2.6 National Income............................................................ 2.7 The Real Wage ............................................................ 2.8 Review of Indirect Utility Function........................... 2.8.1 The differential of a function........................... 2.8.2 Using the differential with the indirect utility function................................................... 2.9 Gains from Trade: Another View .............................. 2.10 Some Comparative Statics Experiments..................... 2.11 Equilibrium with Trade................................................ XV 9 9 10 15 17 21 22 23 23 27 29 30 30 34 35
xvi 3. 4. Lecture Notes in International Trade Theory Comparative Statics: Taxes and Stability 3.1 Introduction................................................................... 3.2 Equilibrium Conditions in the Open Economy .... 3.3 The Effects of Taxes and Tariffs.................................. 3.3.1 Comparative static questions............................ 3.4 Technical Details............................................................. 3.4.1 The slope of the PPF equals the negative of the ratio of marginal products......................... 3.4.2 At the social optimum, the slope of the PPF equals the negative of the relative commodity prices................................................................... 3.4.3 The competitive equilibrium and the social optimum............................................................. 3.4.4 If firms face different factor prices, production is below the PPF .............................................. 3.5 Import Demand/Export Supply Functions............... 3.6 The Equilibrium World Price and Stability............... 3.6.1 Finding the set of equilibrium prices............... 3.6.2 Introducing the concept of stability............... 3.6.3 Formalizing the concept of stability............... 3.6.4 An analogy: stability and second order conditions............................................................. 3.6.5 The Marshall Terner condition........................ 3.7 A Review of Taxes in the Simplest Setting............... 3.7.1 Tax equivalence ................................................. 3.7.2 Approximating tax
incidence........................... 3.7.3 Deadweight cost of taxes.................................. 3.7.4 The open economy.............................................. 43 43 44 50 52 57 Applications: Empirics, Transfers, andLeakage 4.1 Introduction................................................................... 4.2 Import Substitution vs. Export Promotion............... 4.3 The Transfer Problem.................................................... 4.3.1 Price-effects of the transfer.............................. 4.3.2 Welfare effects of the transfer........................... 87 87 88 93 93 98 59 60 61 62 63 66 67 68 69 71 73 76 78 81 82 84
Contents 4.4 Leakage........................................................................... 4.4.1 Partial equilibrium............................................. 4.4.2 General equilibrium.......................................... 4.4.3 The math behind the result.............................. xvii 100 101 105 108 5. The Theory of the Second Best 113 5.1 Introduction.................................................................. 113 5.2 The TOSB in an Abstract Setting.................................. 114 5.3 A Famous Example...................................................... 116 5.4 Trade Liberalization with a Commodity Tax................117 5.4.1 The Graphical Analysis.................................... 121 5.4.2 The mathematics ............................................. 123 5.4.3 The economic interpretation............................... 129 5.5 Trade, Price Volatility, and Missing Markets............130 5.5.1 Revenue variability .............................................. 130 5.5.2 Pareto inferior trade.......................................... 134 5.6 Immizerizing growth...................................................... 136 5.6.1 A growth-induced decline in the terms of trade................................................................... 137 5.7 Exogenous Constraints and the Principle of Targeting ...................................................................... 140 6. The Ricardo—Viner Model 145 6.1 Introduction.................................................................. 145 6.2 Equilibrium in the Basic
Model..................................... 145 6.3 Comparative Statics...................................................... 147 6.3.1 The effect of the commodity price on labor allocation and the wage.................................... 147 6.3.2 The return to the specific factors.........................150 6.3.3 Changes in the supply of factors......................... 152 6.4 Trade.............................................................................. 155 6.5 Imperfect Property Rights.............................................. 156 6.5.1 A common property resource...............................157 6.5.2 Poachers ............................................................ 158 6.5.3 Trade in the poaching model............................... 169
xviii Lecture Notes in International Trade Theory 6.6 Minimum Wage............................................................. 172 6.6.1 Autarchy with a binding minimum wage . . . 174 6.6.2 Trade can lower welfare.....................................177 6.7 Adjustment of the Specific Factors ............................ 177 6.7.1 An algebraic treatment..................................... 181 6.7.2 A different interpretation......................................183 7. The Heckscher-Ohlin-Samuelson Model 185 7.1 Introduction................................................................... 185 7.2 Technology...................................................................... 186 7.3 Factor Price Equalization..................................................189 7.3.1 No factor intensity reversals ............................ 190 7.3.2 Factor intensity reversals.................................. 195 7.3.3 Full employment.....................................................198 7.3.4 The theorem...........................................................200 7.4 The Stolper-Samuelson Theorem .................................. 203 7.4.1 Intuition .................................................................203 7.4.2 A formal demonstration........................................ 204 7.4.3 The algebra..............................................................209 7.4.4 Some implications................................................. 210 7.5 The Rybczyński Theorem..............................................212 7.5.1 Incomplete vs. complete
specialization................215 7.5.2 Trade implications................................................. 215 7.5.3 Application..............................................................222 7.6 The Heckscher-Ohlin-Samuelson Theorem............... 223 7.6.1 The price version ................................................. 223 7.6.2 The quantity version ........................................... 224 Appendix A Derivation of Equation (4-11) 229 Appendix В Problem Sets 231 Appendix C Answer Key Index 247 283
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| adam_txt |
Contents Preface vii About the Author xi About the Book xiii 1. Introduction 1 2. Ricardian Model 2.1 Introduction. 2.2 Technology and Markets. 2.2.1 Commodity prices. 2.3 Relative Prices Under Free Trade. 2.4 Wages in the Two Countries. 2.5 Trade. 2.6 National Income. 2.7 The Real Wage . 2.8 Review of Indirect Utility Function. 2.8.1 The differential of a function. 2.8.2 Using the differential with the indirect utility function. 2.9 Gains from Trade: Another View . 2.10 Some Comparative Statics Experiments. 2.11 Equilibrium with Trade. XV 9 9 10 15 17 21 22 23 23 27 29 30 30 34 35
xvi 3. 4. Lecture Notes in International Trade Theory Comparative Statics: Taxes and Stability 3.1 Introduction. 3.2 Equilibrium Conditions in the Open Economy . 3.3 The Effects of Taxes and Tariffs. 3.3.1 Comparative static questions. 3.4 Technical Details. 3.4.1 The slope of the PPF equals the negative of the ratio of marginal products. 3.4.2 At the social optimum, the slope of the PPF equals the negative of the relative commodity prices. 3.4.3 The competitive equilibrium and the social optimum. 3.4.4 If firms face different factor prices, production is below the PPF . 3.5 Import Demand/Export Supply Functions. 3.6 The Equilibrium World Price and Stability. 3.6.1 Finding the set of equilibrium prices. 3.6.2 Introducing the concept of stability. 3.6.3 Formalizing the concept of stability. 3.6.4 An analogy: stability and second order conditions. 3.6.5 The Marshall'Terner condition. 3.7 A Review of Taxes in the Simplest Setting. 3.7.1 Tax equivalence . 3.7.2 Approximating tax
incidence. 3.7.3 Deadweight cost of taxes. 3.7.4 The open economy. 43 43 44 50 52 57 Applications: Empirics, Transfers, andLeakage 4.1 Introduction. 4.2 Import Substitution vs. Export Promotion. 4.3 The Transfer Problem. 4.3.1 Price-effects of the transfer. 4.3.2 Welfare effects of the transfer. 87 87 88 93 93 98 59 60 61 62 63 66 67 68 69 71 73 76 78 81 82 84
Contents 4.4 Leakage. 4.4.1 Partial equilibrium. 4.4.2 General equilibrium. 4.4.3 The math behind the result. xvii 100 101 105 108 5. The Theory of the Second Best 113 5.1 Introduction. 113 5.2 The TOSB in an Abstract Setting. 114 5.3 A Famous Example. 116 5.4 Trade Liberalization with a Commodity Tax.117 5.4.1 The Graphical Analysis. 121 5.4.2 The mathematics . 123 5.4.3 The economic interpretation. 129 5.5 Trade, Price Volatility, and Missing Markets.130 5.5.1 Revenue variability . 130 5.5.2 Pareto inferior trade. 134 5.6 Immizerizing growth. 136 5.6.1 A growth-induced decline in the terms of trade. 137 5.7 Exogenous Constraints and the Principle of Targeting . 140 6. The Ricardo—Viner Model 145 6.1 Introduction. 145 6.2 Equilibrium in the Basic
Model. 145 6.3 Comparative Statics. 147 6.3.1 The effect of the commodity price on labor allocation and the wage. 147 6.3.2 The return to the specific factors.150 6.3.3 Changes in the supply of factors. 152 6.4 Trade. 155 6.5 Imperfect Property Rights. 156 6.5.1 A common property resource.157 6.5.2 Poachers . 158 6.5.3 Trade in the poaching model. 169
xviii Lecture Notes in International Trade Theory 6.6 Minimum Wage. 172 6.6.1 Autarchy with a binding minimum wage . . . 174 6.6.2 Trade can lower welfare.177 6.7 Adjustment of the Specific Factors . 177 6.7.1 An algebraic treatment. 181 6.7.2 A different interpretation.183 7. The Heckscher-Ohlin-Samuelson Model 185 7.1 Introduction. 185 7.2 Technology. 186 7.3 Factor Price Equalization.189 7.3.1 No factor intensity reversals . 190 7.3.2 Factor intensity reversals. 195 7.3.3 Full employment.198 7.3.4 The theorem.200 7.4 The Stolper-Samuelson Theorem . 203 7.4.1 Intuition .203 7.4.2 A formal demonstration. 204 7.4.3 The algebra.209 7.4.4 Some implications. 210 7.5 The Rybczyński Theorem.212 7.5.1 Incomplete vs. complete
specialization.215 7.5.2 Trade implications. 215 7.5.3 Application.222 7.6 The Heckscher-Ohlin-Samuelson Theorem. 223 7.6.1 The price version . 223 7.6.2 The quantity version . 224 Appendix A Derivation of Equation (4-11) 229 Appendix В Problem Sets 231 Appendix C Answer Key Index 247 283 |
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