Theory of International Trade: A Dual, General Equilibrium Approach / Edition 1

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Overview

This book expounds trade theory emphasizing that a trading equilibrium is general rather than partial, and is often best modelled using dual or envelope functions. This yields a compact treatment of standard theory, clarifies some errors and confusions, and produces some new departures. In particular, the book (i) gives unified treatments of comparative statics and welfare, (ii) sheds new light on the factor-price equalization issue, (iii) treats the modern specific-factor model in parallel with the usual Heckscher-Ohlin one, (iv) analyses the balance of payments in general equilibrium with flexible and fixed prices, (v) studies imperfect competition and intra-industry trade.

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Product Details

  • ISBN-13: 9780521299695
  • Publisher: Cambridge University Press
  • Publication date: 5/28/2006
  • Series: Cambridge Economic Handbooks Series
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 352
  • Product dimensions: 5.43 (w) x 8.50 (h) x 0.79 (d)

Table of Contents

1. The theory of international trade; 2. Supply and demand using duality; 3. International equilibrium and the gains from trade; 4. Trade, specialization and factor prices; 5. Comparative statics; 6. Welfare and trade policy; 7. Money and the balance of payments; 8. Trade and payments with fixed prices; 9. Scale economies and imperfect competition; Mathematical appendix; Bibliography; Index.

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  • Anonymous

    Posted October 16, 2003

    A good book for International Trade courses, but not complete

    The book covers a good deal of ideas and models in International Trade. However, the reasonings are not rigorous enough and the authors leave a lot of thinkings and 'figuring outs' to the reader, which in many cases can hinder understanding of concepts. The book doesn't have a satisfactory coverage of 'magnification effects', 'Heschker-Ohlin-Vanek' models, 'Factor-content of Trade' and some more recent ideas. Overall I would recommend studying this book for the course, but remember this book is not a stand-alone textbook and needs a lot of complementary material.

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