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Full Description
This volume examines important topical issues in normative trade theory and welfare economics. In particular, it seeks to investigate how far the potential gainfulness of international trade can be extended in an increasingly globalized world. The first section focuses on the gains from trade in the presence of time-consuming consumption and external increasing returns to scale, which are often neglected in traditional trade theory. The next section considers a range of issues that have practical and policy relevance, including trade liberalization, tax reform, tourism, and international migration. The last section examines the impact of income transfers, both from domestic and international perspectives, and of economic policy making.
All chapters of the book are contributed by internationally well-known researchers, including Murray Kemp, Henry Wan, Ngo Van Long and some of Murray Kemp's many colleagues and former students around the world. This book, with its up-to-date information and analysis, will be essential to academics and graduate students in the field of international economics. Trade theorists in research institutions and practicing economists in governmental departments will also find this book of great interest.
Contents
Chapter 1. Introduction.- Part I The Gains from Trade under Non-standard Assumptions.- Chapter 2. The Rise and Fall of Normative Trade Theory.- Chapter 3. Deconstruct the Graham's Paradox.- Chapter 4. Welfare Effects of Trade Liberalization and Coordinate Domestic Sales Tax Reforms under International Oligopoly.- Part II Normative and Welfare Economics under Gossenian Assumptions.- Chapter 5. Normative Trade Theory under Gossenian Assumptions.- Chapter 6. Time Allocation under Autarky and Free Trade in the Presence of Time-consuming Consumption.- Chapter 7. A General Equilibrium Model in Which Consumption Takes Time.- Part III Selected Issues in Trade Policy.- Chapter 8. The Effects of Tourism Promotion on Unemployment and Welfare in the Presence of Environmental Protection and Agricultural Subsidy.- Chapter 9. International Migration via Two Different Types of Midstream Countries.- Chapter 10. On the Incentive fora Self-interested Policymaker to Mimic the Behavior of a Social-welfare Maximizer.- Part IV Tranfer Policy.- Chapter 11. The Rise and Fall of Political Economy.- Chapter 12. Domestic Income Transfer in a Dual Economy.- Chapter 13. Foreign Aid: Mixed Strategy Equilibria.- Part V Positive Trade Theory.- Chapter 14. A Geometric Proof of Complete Specialization in a Three-by-three Ricardian World Economy.
