Giffenness in Imports and Fluctuation in Import Prices for a Small Open Economy

John M. Hartwick

Working Papers from Queen's University, Department of Economics

Abstract: In a two good, two factor small open economy with neoclassical production functions, we investigate conditions for Giffenness of imports with respect to the price of the imported good. Of interest is the shape of the consumption-trade frontier (the locus of points chosen as world prices vary) under Giffenness. It is concave to the origin. We note the implications of this for the small open economy facing fluctuating terms of trade.

Date: 1988

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Persistent link: http://EconPapers.repec.org/RePEc:qed:wpaper:731

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