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Revisiting "The Fallacy of Free Trade."

Author

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  • Arndt, Channing
  • Hertel, Thomas W

Abstract

The paper examines results presented by Batra in an article entitled "The Fallacy of Free Trade" (1992). Batra contends that technical change in Japanese manufacturing necessarily reduces US real wages in the confines of a two-good, two-country Ricardo-Viner model. A parsimonious empirical Ricardo-Viner model is constructed to analyze the same issue. It is found that the impact on US real wages is very small. Systematic sensitivity analysis shows that increases in the real wage are as likely as decreases. It is concluded that Batra's assertions are empirically unlikely. Copyright 1997 by Blackwell Publishing Ltd.

Suggested Citation

  • Arndt, Channing & Hertel, Thomas W, 1997. "Revisiting "The Fallacy of Free Trade."," Review of International Economics, Wiley Blackwell, vol. 5(2), pages 221-229, May.
    • Handle: RePEc:bla:reviec:v:5:y:1997:i:2:p:221-29
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    Citations

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    Cited by:

    1. Peterson, Everett & Orden, David, 2006. "Linking Risk and Economic Assessments in the Analysis of Plant Pest Regulations: The Case of U.S. Imports of Mexican Avocados," Contractor and Cooperator Reports 292000, United States Department of Agriculture, Economic Research Service.
    2. Pearson, Ken & Channing Arndt, 2000. "Implementing Systematic Sensitivity Analysis Using GEMPACK," GTAP Technical Papers 474, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University.
    3. Bor, Yungchang Jeffery & Chuang, Yih-Chyi & Lai, Wei-Wen & Yang, Chung-Min, 2010. "A dynamic general equilibrium model for public R&D investment in Taiwan," Economic Modelling, Elsevier, vol. 27(1), pages 171-183, January.
    4. Peterson, Everett B. & Evangelou, Phylo & Orden, David & Bakshi, Nishita, 2004. "An Economic Assessment Of Removing The Partial U.S. Import Ban On Fresh Mexican Hass Avocados," 2004 Annual meeting, August 1-4, Denver, CO 19938, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    5. Artavia, Marco & Grethe, Harald & Zimmermann, Georg, 2015. "Stochastic market modeling with Gaussian Quadratures: Do rotations of Stroud's octahedron matter?," Economic Modelling, Elsevier, vol. 45(C), pages 155-168.
    6. Ferrier, Peyton & Peterson, Everett E. & Landes, Maurice, 2012. "Specialty Crop Access to U.S. Markets: A Case Study of Indian Mangoes," Economic Research Report 262228, United States Department of Agriculture, Economic Research Service.
    7. Liu, Yawen & Cui, Qi & Liu, Yu & Zhang, Jinzhu & Zhou, Meifang & Ali, Tariq & Yang, Lingyu & Feng, Kuishuang & Hubacek, Klaus & Li, Xinbei, 2021. "Countermeasures against economic crisis from COVID-19 pandemic in China: An analysis of effectiveness and trade-offs," Structural Change and Economic Dynamics, Elsevier, vol. 59(C), pages 482-495.

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