Inframarginal Approach to Trade Theoryn

Inframarginal Approach to Trade Theoryn

by Xiaokai Yang, Heling Shi, Wenli Cheng, Christis Tombazos
     
 

Inframarginal analysis represents a methodology that extends marginal analysis, using non-classical mathematical programming, in efforts to investigate corner solutions and indivisibilities. As such this approach has been used to reintroduce classical insights regarding the division of labor and economic organization to the mainstream of economic inquiry. One of the… See more details below

Overview

Inframarginal analysis represents a methodology that extends marginal analysis, using non-classical mathematical programming, in efforts to investigate corner solutions and indivisibilities. As such this approach has been used to reintroduce classical insights regarding the division of labor and economic organization to the mainstream of economic inquiry. One of the most prolific and useful relevant applications of inframarginal analysis concerns the area of international trade theory. The ensuing field of study has attracted considerable � and rapidly expanding � interest in recent years. Yet, little has been done by way of organizing the accumulated knowledge in a single volume. This book fills that gap by collecting key articles that mark distinct stages in the evolution of research in the area of inframarginal applications to trade theory. In this context the volume represents an excellent introduction of this novel and exciting field of study to the new researcher, and an invaluable source of reference to those seasoned in inframarginal applications to trade theory.

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Product Details

ISBN-13:
9789812389299
Publisher:
World Scientific Publishing Company, Incorporated
Publication date:
03/08/2005
Series:
Increasing Returns and Inframarginal Economics Series
Pages:
540
Product dimensions:
62.50(w) x 95.00(h) x 1.25(d)

Meet the Author

Table of Contents

1Division of labor and corner solutions in positive trade theory3
2Economics and biology : specialization and speciation19
3Substitution and division of labour29
4Trade and insurance with moral hazard53
5Trade and insurance with imperfectly observed outcomes75
6An inframarginal analysis of the Ricardian model87
7A Ricardian model with endogenous comparative advantage and endogenous trade policy regimes109
8A general-equilibrium re-appraisal of the Stolper-Samuelson theorem131
9A Ricardo model with economics of scale153
10Pattern of trade and economic development in a model of monopolistic competition185
11Market led industrialization and globalization223
12Specialization and product diversity249
13Endogenous vs. exogenous comparative advantage and economics of specialization vs. economies of scale261
14A new theory of demand and supply and emergence of international trade from domestic trade291
15Walrasian equilibrium computation, network formation, and the Wen theorem325
16Globalization, dual economy, and economic development349
17Endogenous structure of the division of labor, endogenous trade policy regime, and a dual structure in economic development383
18A microeconomic mechanism for economic growth409
19Specialization and a new approach to economic organization and growth437
20Specialization, information, and growth : a sequential equilibrium analysis447
21Evolution in division of labor and macroeconomic policies475
22Division of labor, money and economic progress491

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