A NEW THEORY OF DEMAND AND SUPPLY AND EMERGENCE OF INTERNATIONAL TRADE FROM DOMESTIC TRADE

Xiaokai Yang

Chapter 14 in An Inframarginal Approach to Trade Theory, 2005, pp 291-323 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:IntroductionThe ModelThe Equilibrium Level of Division of LaborAn individual's optimal decision of level of specializationEquilibrium and its comparative staticsA Modified Version with the CES Utility FunctionImplications for Microeconomics, Trade Theory and Development EconomicsOrganizational efficiency versus allocative efficiencyEmergence of international trade from domestic tradeTrade policy: laissez-faire versus protectionismGrowth implications of policy to birth controlExplaining the Linder-type trading patternConcluding RemarksReferences

Keywords: Inframarginal Economics; Trade Theory; Heckscher-Ohlin; Stopler-Samuelson; Ricardian Model of Trade; Classical and Nonclassical Mathematical Programming; Corner Solutions (search for similar items in EconPapers)
Date: 2005
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