A Neo‐Ricardian Trade Model with Overlapping Generations

Tran Nam Binh

The Economic Record, 1985, vol. 61, issue 4, 707-718

Abstract: This paper develops and examines a discrete‐time two‐by‐two‐by‐two barter trading world which incorporates populations. composed of overlapping, life‐cycle‐maximizing generations; each provides an economically distinguishable factor of production. It is shown that free trade without compensation can be Pareto inferior to autarky for one country. Conditions for uncompensated free trade to take place under a majority voting system are derived. The model permits intergenerational borrowing and lending to take place domestically but not internationally.

Date: 1985
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https://doi.org/10.1111/j.1475-4932.1985.tb02027.x

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