Gains from Trade · Essays in International Trade Theory, The by Kemp, Murray C. -- Read -- Imperial Library of Trantor

Index

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Gains from Trade: Essays in International Trade Theory, The

CONTENTS

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TABLE OF CONTENTS INTRODUCTION

A LITTLE HISTORY OF THOUGHT THE SCOPE OF PARETIAN COMPENSATION NOTES REFERENCES

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TABLE OF CONTENTS Part I: THE GAINS FROM FREE TRADE UNDER PERFECT COMPETITION CHAPTER 1: THE GAIN FROM INTERNATIONAL TRADE

1 INTRODUCTION 2 SAMUELSON’S 1939 THEOREM 3 EXTENSION OF THE THEOREM TO VARIABLE TERMS OF TRADE 4 A FOOTNOTE TO SECTIONS 2 AND 3 5 RESTRICTED TRADE IS SUPERIOR TO NO TRADE 6 EXTENSION OF THE PROOF TO COVER IMPORTED RAW MATERIALS 7 THE ACCOMMODATION OF CAPITAL MOVEMENTS 8 THE GAIN FROM RESTRICTING TRADE 9 FINAL COMMENTS NOTES REFERENCES

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TABLE OF CONTENTS CHAPTER 2: THE GAINS FROM FREE TRADE

1 INTRODUCTION 2 NOTATION AND ASSUMPTIONS 3 GAINS FROM THE OPENING OF TRADE—COUNTRIES OF ANY SIZE 4 VARIATIONS IN FOREIGN DEMAND—SMALL COUNTRIES 5 DEMAND VARIATIONS—COUNTRIES OF ANY SIZE ADDENDUM: THE GAIN FROM TRADE IN TECHNIQUES OF PRODUCTION NOTES REFERENCES

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TABLE OF CONTENTS CHAPTER 3: AN ELEMENTARY PROPOSITION CONCERNING THE FORMATION OF CUSTOMS UNIONS

1 INTRODUCTION 2 PROOF OF THE PROPOSITION 3 AN ADDENDUM (1993) NOTES REFERENCES

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TABLE OF CONTENTS CHAPTER 4: THE COMPARISON OF SECOND-BEST EQUILIBRIA: The case of customs unions

1 INTRODUCTION 2 PROOF OF PROPOSITION 3 THE NECESSITY AND INFORMATIONAL REQUIREMENTS OF LUMPSUM COMPENSATION NOTES REFERENCES

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TABLE OF CONTENTS CHAPTER 5: THE GAINS FROM TRADE WHEN MARKETS ARE POSSIBLY INCOMPLETE

1 INTRODUCTION 2 AN EXAMPLE 3 THE MODEL 4 GAINS FROM TRADE 5. THE ROLE OF LUMPSUM TRANSFERS 6. FINAL REMARKS APPENDIX NOTES REFERENCES A FURTHER NOTE ON THE GAINS FROM TRADE WHEN MARKETS ARE POSSIBLY INCOMPLETE

References

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TABLE OF CONTENTS CHAPTER 6: THE GAINS FROM FREE TRADE FOR A MONETARY ECONOMY

1 INTRODUCTION 2 ANALYSIS 3 FINAL REMARK NOTES REFERENCE

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TABLE OF CONTENTS CHAPTER 7: THE GAINS FROM TRADE FOR A MONETARY ECONOMY WHEN MARKETS ARE POSSIBLY INCOMPLETE

1 INTRODUCTION 2 PARETO-INFERIOR TRADE 3 THE MODEL 4 THE GAINS FROM TRADE 5 CONCLUDING REMARKS APPENDIX NOTES REFERENCES

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TABLE OF CONTENTS CHAPTER 8: TRADE GAINS IN A PURE CONSUMPTION-LOAN MODEL

1 INTRODUCTION 2 A CLOSED ECONOMY 3 AN OPEN ECONOMY 4 CONCLUDING REMARKS NOTES REFERENCES

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TABLE OF CONTENTS CHAPTER 9: GAINS FROM TRADE WITH OVERLAPPING GENERATIONS

1 INTRODUCTION 2 AN OVERLAPPING-GENERATIONS MODEL 3 THE COMPENSATION SCHEME 4 GAINS FROM TRADE

4.1 International capital movement 4.2 Public saving 4.3 Saving subsidy 4.4 Commodity taxation

5 ANTICIPATED SHOCKS 6 MONETARY ECONOMIES 7 CONCLUDING REMARKS APPENDIX NOTES REFERENCES

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TABLE OF CONTENTS CHAPTER 10: THE GAINS FROM INTERNATIONAL TRADE IN A CONTEXT OF OVERLAPPING GENERATIONS

1 INTRODUCTION 2 A MODEL OF AN OLG ECONOMY

2.1 The home country 2.2 The world economy

3 THE GAINS FROM TRADE 4 DURABLE CAPITAL GOODS 5 FINAL REMARKS APPENDIX NOTES REFERENCES

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TABLE OF CONTENTS CHAPTER 11: THE WELFARE GAINS FROM INTERNATIONAL MIGRATION

1 INTRODUCTION 2 THE GAINS FROM INTERNATIONAL TRADE AND INVESTMENT 3 THE GAINS FROM INTERNATIONAL MIGRATION 4 FINAL REMARKS NOTES REFERENCES

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TABLE OF CONTENTS CHAPTER 12: THE PROBLEM OF SURVIVAL: An open economy

1 INTRODUCTION 2 ANALYSIS 3 THE POSSIBILITY OF STORAGE 4 AN ALTERNATIVE MODEL NOTES REFERENCES

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TABLE OF CONTENTS CHAPTER 13: THE INTERNATIONAL DIFFUSION OF THE FRUITS OF TECHNICAL PROGRESS

1 INTRODUCTION 2 FREE TRADE 3 TRADE RESTRICTED BY OPTIMAL TARIFFS 4 IMPLICATIONS NOTES REFERENCES

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TABLE OF CONTENTS Part II: THE GAINS FROM RESTRICTED TRADE UNDER PERFECT COMPETITION CHAPTER 14: ON THE SHARING OF TRADE GAINS BY RESOURCE-POOR AND RESOURCE-RICH COUNTRIES

1 INTRODUCTION 2 AN ASYMMETRICAL WORLD ECONOMY 3 THE SCOPE OF ECONOMIC IMPERIALISM 4 THE SCOPE OF RESOURCE NATIONALISM 5 TO WHOM THE FRUITS OF PROGRESS? 6 A LESS ASYMMETRICAL WORLD ECONOMY APPENDIX

The Cournot process The Stackelberg process

NOTES REFERENCES

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TABLE OF CONTENTS CHAPTER 15: THE INTERACTION OF RESOURCE-RICH AND RESOURCE-POOR ECONOMIES

1 INTRODUCTION 2 A SINGLE CLOSED ECONOMY 3 BOTH COUNTRIES ARE PRICE-TAKERS 4 THE RESOURCE-RICH COUNTRY IS AGGRESSIVE 5 THE RESOURCE-POOR COUNTRY IS AGGRESSIVE 6 FINAL REMARKS NOTES

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TABLE OF CONTENTS Part III: THE GAINS FROM TRADE UNDER IMPERFECT COMPETITION AND OTHER DISTORTIONS CHAPTER 16: SOME ISSUES IN THE ANALYSIS OF TRADE GAINS

1 INTRODUCTION 2 IS A HIGHER TARIFF WORSE THAN A LOWER TARIFF? 3 THE GAINS FROM TAX- OR SUBSIDY-RIDDEN TRADE 4 THE EFFECT ON WELFARE OF AN IMPROVEMENT IN THE TERMS OF TRADE 5 CONCLUDING REMARKS APPENDIX: DERIVATION OF THE UTILITY-FEASIBILITY LOCUS NOTES REFERENCES

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TABLE OF CONTENTS CHAPTER 17: VARIABLE RETURNS TO SCALE, COMMODITY TAXES, FACTOR-MARKET DISTORTIONS AND THEIR IMPLICATIONS FOR TRADE GAINS

1 INTRODUCTION 2 VARIABLE RETURNS TO SCALE 3 COMMODITY TAXES 4 FACTOR-MARKET DISTORTIONS 5 FINAL REMARKS NOTES REFERENCES

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TABLE OF CONTENTS CHAPTER 18: VARIABLE RETURNS TO SCALE, NON-UNIQUENESS OF EQUILIBRIUM AND THE GAINS FROM INTERNATIONAL TRADE

1 INTRODUCTION 2 CONCEPTS AND ASSUMPTIONS 3 ANALYSIS 4 FINAL REMARK APPENDIX ACKNOWLEDGEMENTS NOTES REFERENCES

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TABLE OF CONTENTS CHAPTER 19: THE GAINS FROM INTERNATIONAL TRADE UNDER IMPERFECT COMPETITION: A conjectural variations approach

1 INTRODUCTION 2 THE MODEL 3 AUTARKIC EQUILIBRIUM 4 THE TRADING EQUILIBRIUM 5 FINAL REMARK APPENDIX NOTES REFERENCES

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TABLE OF CONTENTS CHAPTER 20: THE INTERNATIONAL DIFFUSION OF THE FRUITS OF TECHNICAL PROGRESS UNDER IMPERFECT COMPETITION

1 INTRODUCTION 2 A CLOSED ECONOMY 3 AN OPEN ECONOMY 4 A FINAL REMARK APPENDIX 1: EXISTENCE OF EQUILIBRIUM APPENDIX 2: MISCELLANEOUS PROOFS NOTES REFERENCES

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TABLE OF CONTENTS CHAPTER 21: DOES THE SET OF IMPERFECTLY COMPETITIVE GENERAL EQUILIBRIA DEPEND ON THE CHOICE OF PRICE NORMALIZATION?

1 INTRODUCTION 2 THE ‘COURNOT-NASH’ EXAMPLE 3 THE ‘BERTRAND-NASH’ EXAMPLE 4 BEYOND BÖHM’S EXAMPLES NOTES REFERENCES

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TABLE OF CONTENTS CHAPTER 22: LEARNING BY DOING: Formal tests for intervention in an open economy

1 INTRODUCTION 2 THE MODEL 3 THE TESTS

3.1 A necessary condition 3.2 A sufficient condition

4 PERSPECTIVE NOTES REFERENCES

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TABLE OF CONTENTS Part IV: COMPENSATION: LUMPSUM, NON-LUMPSUM OR NEITHER? CHAPTER 23: GAINS FROM TRADE WITH AND WITHOUT LUMPSUM COMPENSATION

1 INTRODUCTION 2 THREE EXAMPLES 3 COMMENT ON DIXIT AND NORMAN NOTES REFERENCES

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TABLE OF CONTENTS CHAPTER 24: ON LUMPSUM COMPENSATION

1 INTRODUCTION 2 ANALYSIS

2.1 Essentially repetitive economies 2.2 Grandmont-McFadden-Grinols compensation 2.3 Existence of market equilibrium 2.4 An allocation mechanism 2.5 A generalization

3 REFORMULATION IN TERMS OF OVERLAPPING GENERATIONS 4 SUMMARY AND PROSPECT APPENDIX: A NUMERICAL EXAMPLE NOTES REFERENCES

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TABLE OF CONTENTS CHAPTER 25: LUMPSUM COMPENSATION IN A CONTEXT OF INCOMPLETE MARKETS

1 INTRODUCTION 2 GENERAL EQUILIBRIUM WITH MISSING MARKETS 3 TECHNICAL IMPROVEMENTS AND COMPENSATING TRANSFERS 4 MAIN PROPOSITION 5 FINAL REMARKS NOTES REFERENCES

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TABLE OF CONTENTS CHAPTER 26: LUMPSUM COMPENSATION IN A CONTEXT OF OVERLAPPING GENERATIONS

1 INTRODUCTION 2 GENERAL EQUILIBRIUM WITH OVERLAPPING GENERATIONS 3 TECHNICAL IMPROVEMENTS AND COMPENSATING TRANSFERS 4 MAIN PROPOSITION 5 DURABLE CAPITAL GOODS 6 FINAL REMARKS NOTE REFERENCES

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TABLE OF CONTENTS Part V: INTERNATIONAL AID CHAPTER 27: THE STATIC WELFARE ECONOMICS OF FOREIGN AID: A consolidation

1 INTRODUCTION 2 AID BY TRANSFER OF GOODS—THE SIMPLEST CASE 3 AID BY TRANSFER OF GOODS—TIED AID 4 AID BY TRANSFER OF GOODS—BYSTANDERS

4.1 Aid in the absence of distortions 4.2 Tied aid again 4.3 Joint donors and joint recipients 4.4 Summary

5 AID BY TRANSFER OF INFORMATION—THE SIMPLEST CASE 6 AID BY TRANSFER OF INFORMATION—BYSTANDERS 7 THE RESOURCE-USING ADMINISTRATION OF FOREIGN AID 8 NEXT STEPS NOTES REFERENCES

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TABLE OF CONTENTS CHAPTER 28: CONDITIONS FOR THE LOCAL IMPOTENCE OF LUMPSUM TRANSFERS TO EFFECT A REDISTRIBUTION OF WELFARE BETWEEN NATIONS

NOTE REFERENCES

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TABLE OF CONTENTS CHAPTER 29: THE TRANSFER PROBLEM IN A CONTEXT OF PUBLIC GOODS

1 INTRODUCTION 2 A PURE PUBLIC INTERMEDIATE GOOD 3 A PURE PUBLIC CONSUMPTION GOOD 4 A PURE INTERNATIONAL PUBLIC GOOD NOTE REFERENCES

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TABLE OF CONTENTS CHAPTER 30: ON THE OPTIMAL TIMING OF FOREIGN AID

1 INTRODUCTION 2 PRIVATE CAPITAL IMMOBILE BETWEEN COUNTRIES 3 PRIVATE CAPITAL MOBILE BETWEEN COUNTRIES 4 FINAL REMARKS

4.1 The donor more productive than the recipient 4.2 A second commodity

APPENDIX REFERENCE

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TABLE OF CONTENTS CHAPTER 31: ‘TRADE’ OR ‘AID’?

1 INTRODUCTION 2 THE MODEL 3 LOCAL ANALYSIS 4 GLOBAL ANALYSIS 5 A FINAL REMARK ACKNOWLEDGEMENTS NOTE REFERENCES

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