The Le Châtelier Principle in the Theory of International Trade

Udo Kreickemeier

Chapter 5 in International Trade and Labor Markets:Welfare, Inequality and Unemployment, 2017, pp 117-140 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This chapter shows in a general framework the broad applicability of the Le Châtelier Principle in international trade theory and policy. By stressing the formal similarity between a small open economy and a price taking multi-product firm, the chapter generalizes earlier applications of the Le Châtelier Principle in the trade literature. In addition, it is shown how some of the Le Châtelier results, which in their established form are locally valid only, can be generalized to discrete parameter changes.

Keywords: International Trade; Inequality; Labor Markets; Unemployment; Offshoring (search for similar items in EconPapers)
JEL-codes: J01 (search for similar items in EconPapers)
Date: 2017
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Journal Article: The Le Châtelier Principle in the Theory of International Trade (2006)
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