Trade Gains in Chaotic Equilibrium

Murray Kemp and Koji Shimomura

No 77, Discussion Paper Series from Research Institute for Economics & Business Administration, Kobe University

Abstract: In the present note we construct an overlapping-generations (OLG) example in which free trade is Pareto-improving and the world equilibrium chaotic. The example is simple, but it is not incompatible with the general model of Kemp and Wolik.

Keywords: International trade; Economic theory (search for similar items in EconPapers)
JEL-codes: F10 F14 (search for similar items in EconPapers)
Pages: 12 pages
Date: 1997-04, Revised 1997-07
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Journal Article: Trade Gains in Chaotic Equilibria (1999)
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