General Equilibrium Trade Theory

Alan Woodland

Chapter 3 in Palgrave Handbook of International Trade, 2013, pp 39-87 from Palgrave Macmillan

Abstract: Abstract Since the inception of the study of international trade, the most common modeling framework has been that of perfect competition and of general equilibrium. While the recent development of what has been called the ‘new trade theory’ has led to the analysis of trade issues in models involving imperfect competition, including monopolistic competition and oligopolistic competition, the perfectly competitive equilibrium framework continues to be a dominant force in international trade theory.

Keywords: Competitive Equilibrium; Factor Price; Price Vector; Small Open Economy; Factor Endowment (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-30531-1_3

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DOI: 10.1007/978-0-230-30531-1_3

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