International Economics I: The Pure Theory of International Trade

ISBN-13: 9783540581338 / Angielski / Miękka / 1994 / 344 str.

Giancarlo Gandolfo

Opis

This textbook, in addition to the traditional topics of international trade theory, integrates many topics omitted from other texts, plus new research results so that it is also useful as a reference book. It is designed for use at both undergraduate and graduate level. This is possible because of its unique "two-tier" structure: the text speaks directly to the undergraduate in extremly clear verbal and graphic terms; the appendices, which form the second tier, are addressed to the graduate student and the researcher and are self-contained treatments in mathematical terms of the topics examined in the text. The ample and balanced treatment of the various approaches and the clarity of exposition ensure that the reader gains a thorough grasp of theories, facts and policies.

Spis treści

1 Introduction.- 1.1 International Economics as a distinct subject.- 1.2 The pure theory of international trade: an overview.- References.- 2 The classical (Ricardo-Torrens) theory of comparative costs.- 2.1 Comparative costs (advantages) and international trade.- 2.2 Alternative graphic representations.- 2.3 A modern interpretation in terms of optimization.- 2.3.1 Maximization of real income in each country.- 2.3.2 Maximization of real world income.- 2.4 Generalizations.- 2.4.1 Two goods and n countries.- 2.4.2 m goods and n countries.- 2.5 The problem of the determination of the terms of trade.- A.2.1 Maximization of world income and the dual problem.- A.2.2 Maximization of national income and minimization of real cost.- A.2.3 On the determination of the terms of trade.- References.- 3 The neoclassical theory of international trade.- 3.1 The transformation curve and the box diagram.- 3.2 General equilibrium in a simple closed economy.- 3.2.1 The supply curves.- 3.2.2 The demand curves.- 3.2.3 General equilibrium and Walras’ law.- 3.3 General equilibrium in open economies and international trade.- 3.4 Marshallian reciprocal demand curves, international equilibrium, and stability.- 3.4.1 Derivation of the offer curve.- 3.4.2 International equilibrium and stability.- 3.5 Increasing returns to scale.- 3.6 The gains from trade.- 3.7 Generalizations.- A.3.1 The transformation curve and the box diagram.- A.3.1.1 A formal derivation of the transformation curve and its properties.- A.3.1.2 The convexity or concavity of the transformation curve.- A.3.1.3 Homogeneous production functions and the transformation curve.- A.3.2 A simple closed economy.- A.3.2.1 The basic model.- A.3.2.2 The supply side of the model.- A.3.2.3 The demand side of the model.- A.3.3 International trade and offer curves.- A.3.3.1 The equilibrium conditions. The offer curve and its slope.- A.3.3.2 Relationships between the various elasticities.- A.3.4 Stability.- A.3.4.1 Terms-of-trade adjustment.- A.3.4.2 Quantity adjustment.- A.3.5 Duality approach.- References.- 4 The Heckscher-Ohlin model.- 4.1 Basic assumptions and their meaning.- 4.1.1 Relative price of goods and relative price of factors.- 4.2 Proof of the fundamental theorem.- 4.3 Factor price equalization.- 4.3.1 A graphic treatment.- 4.4 Extensions and qualifications.- 4.4.1 Non-identical structures of demand.- 4.4.2 Factor-intensity reversals.- 4.5 Leontief’s paradox and other empirical studies.- A.4.1 Factor-intensity reversals.- A.4.2 Proof of the fundamental theorem.- A.4.3 The factor price equalization theorem.- A.4.4 A brief outline of the generalizations of the Heckscher-Ohlin model..- References.- 5 Tariffs, protection, economic integration.- 5.1 Introduction.- 5.2 Partial equilibrium effects of a tariff.- 5.3 The so-called social costs of a tariff.- 5.4 General equilibrium effects of a tariff.- 5.4.1 The production-possibilities frontier and tariffs. The Stolper-Samuelson theorem.- 5.4.2 Tariffs and reciprocal demand curves.- 5.4.2.1 The Metzler and Lerner cases.- 5.4.3 The optimum tariff.- 5.5 Quotas and other non-tariff barriers.- 5.5.1 Quotas.- 5.5.2 Export duties.- 5.5.3 International cartels.- 5.5.4 Dumping.- 5.5.5 Other impediments to free trade.- 5.6 Free trade versus protection and the theory of second best.- 5.6.1 The optimum tariff again.- 5.6.2 The infant industry.- 5.6.3 Distortions in domestic goods markets.- 5.6.4 Distortions in domestic factor markets.- 5.6.5 Non-economic motives for protection.- 5.6.6 The theory of second best.- 5.7 Intermediate goods and the effective rate of protection.- 5.8 Customs unions and economic integration.- 5.8.1 The various degrees of integration.- 5.8.2 The effects of a customs union.- 5.8.3 Empirical problems.- 5.9. The “new” protectionism.- 5.9.1 Introductory remarks.- 5.9.2 Voluntary export restraints.- 5.9.3 Subsidies.- 5.9.4 The political economy of protectionism.- 5.9.4.1 The demand and supply of protection.- A.5.1 General equilibrium effects of a tariff: the Stolper-Samuelson theorem.- A.5.2 Tariffs, terms of trade, domestic relative price.- A.5.3 The optimum tariff.- A.5.4 Cartels; dumping.- A.5.5 The theory of second best.- A.5.6 The effective rate of protection.- A.5.7 Lobbies, political parties and endogenous tariff determination.- References.- 6 International trade and economic growth.- 6.1 Introduction.- 6.2 The effects of growth on the volume of trade.- 6.2.1 Consumption effects.- 6.2.2 Production effects.- 6.2.3 A reformulation in terms of elasticities; the total effect.- 6.3 Growth and terms of trade; immiserizing growth.- 6.3.1 The large country and the terms of trade.- 6.3.2 Immiserizing growth.- 6.4 Increase in factor endowments and international trade: Rybczynski’s theorem.- 6.4.1 Rybczynski’s theorem.- 6.4.2 An alternative diagram and the effects on the terms of trade.- 6.5 Technical progress and international trade.- 6.5.1 Types of technical progress.- 6.5.2 Effects of neutral technical progress on production levels and on the terms of trade.- 6.5.3 Effects of biased technical progress.- 6.5.3.1 Capital-saving progress in the capital-intensive sector.- 6.5.3.2 Labour-saving progress in the capital-intensive sector.- 6.5.4 Conclusion.- 6.6 Dynamic models.- 6.6.1 A simple closed-economy two-sector growth model.- 6.6.2 Extension to an open economy.- A.6.1 Classification of the effects of growth.- A.6.2 Comparative statics of the effects of growth in general.- A.6.2.1 Immiserizing growth.- A.6.3 Changes in factor endowments, Rybczynski’s theorem, and the terms of trade.- A.6.3.1 Simultaneous increase in both factors.- A.6.4 Technical progress.- A.6.4.1 Effects of technical progress on factor intensities and factor rewards.- A.6.4.2 Effects of technical progress on output levels.- A.6.4.3 Effects of technical progress on the terms of trade.- A.6.5 Dynamic models.- A.6.5.1 A simple model.- A.6.5.2 Momentary equilibrium.- A.6.5.3 Long-run equilibrium.- References.- 7 Some refinements of the orthodox theory.- 7.1 Introduction.- 7.2 Transport costs and international trade.- 7.3 Intermediate goods.- 7.4 Elastic factor supply.- 7.5 Non-traded goods.- 7.6 Natural resources, specific productive factors, “Dutch disease” and de-industrialization.- 7.7 International factor mobility.- 7.8 International trade under uncertainty.- 7.9 Illegal transactions in international trade and the economic theory of smuggling.- A.7.1 The cost of transport.- A.7.2 Intermediate goods.- A.7.2.1 Final goods as inputs.- A.7.2.2 Pure intermediate goods.- A.7.3 Elastic supply of factors.- A.7.4 Non-traded goods.- A.7.4.1 The behaviour of the offer curve.- A.7.5 Specific factors and de-industrialization.- A.7.5.1 Effects on prices, outputs and factor rewards.- A.7.6 International factor mobility.- A.7.7 Uncertainty and international trade.- A.7.8 Smuggling.- References.- 8 The New Theories of International Trade.- 8.1 Introduction.- 8.2 The precursors.- 8.2.1 Availability.- 8.2.2 Technology gaps.- 8.2.3 The product cycle.- 8.2.4 Income effects.- 8.2.4.1 Linder”s theory.- 8.2.4.2 Barker”s variety hypothesis.- 8.2.5 Intra-industry trade: early explanations.- 8.3 Neo-Heckscher-Ohlin theories.- 8.4 Monopolistic competition and international trade.- 8.4.1 Introduction.- 8.4.2 A Simple synthesis model.- 8.5 Oligopoly and international trade.- 8.5.1 Introduction.- 8.5.2 Homogeneous commodities.- 8.5.3 Vertically differentiated goods.- 8.5.4 Horizontally differentiated goods.- A.8.1 A Neo-Heckscher-Ohlin model.- A.8.2 A model of monopolistic competition and international trade.- A.8.2.1 Love for varitey and demand.- A.8.2.2 The production side.- A.8.2.3 International trade.- A.8.2.4 Tariffs.- A.8.3 Homogeneous goods, oligopoly, and trade.- A.8.4 Vertically differentiated goods, oligopoly, and trade.- A.8.4.1 Consumers.- A.8.4.2 Firms, and market equilibrium.- A.8.4.3 International trade.- A.8.5 Horizontal differentiation, oligopoly, and trade.- A.8.5.1 Demand for characteristics.- A.8.5.2 The production side.- A.8.5.3 International trade and commercial policy.- References.- 9 Neo-Ricardian theories of international trade.- 9.1 Intermediate and capital goods in the orthodox theory.- 9.2 The debate between the orthodox theory and the neo-Ricardian theories.- References.- Name Index.