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Trade Liberalization in Oligopolistic Competition with Unemployment: A General Equilibrium Analysis

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Author Info
Chi-Chur Chao
Eden S. H. Yu
Abstract

This paper examines the short- and long-run effects of partial trade liberalization through relaxation of quantity restrictions in an oligopolistically competitive economy with unemployment. While the short-run effects of the liberalization policy are ambiguous, its long-run impacts are clear: the policy dampens the price of the imported goods, raises firms' output, and reduces the number of firms. Furthermore, the policy lowers the unemployment ratio and hence improves welfare when the economy suffers from sector-specific unemployment, whereas the policy may aggravate underemployment and thus may lower welfare for a labor-surplus economy.

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File URL: http://links.jstor.org/sici?sici=0008-4085%28199705%2930%3A2%3C479%3ATLIOCW%3E2.0.CO%3B2-0
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Publisher Info
Article provided by Canadian Economics Association in its journal Canadian Journal of Economics.

Volume (Year): 30 (1997)
Issue (Month): 2 (May)
Pages: 479-96
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Handle: RePEc:cje:issued:v:30:y:1997:i:2:p:479-96

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  1. Eckhard Janeba, 2007. "Exports, Umemployment and the Welfare State," cege – Center for European, Governance and Economic Development Research Discussion Papers 60, cege – Center for European, Governance and Economic Development Research, University of Goettingen (Germany).. [Downloadable!]
  2. Khan, M. Ali Khan, 2007. "The Harris-Todaro Hypothesis," MPRA Paper 2201, University Library of Munich, Germany. [Downloadable!]
  3. Eckhard Janeba, 2007. "Exports, Unemployment and the Welfare State," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
  4. Chi-Chur Chao & Eden S. H. Yu, 1999. "Export Promotion, Sectoral Unemployment, And National Welfare," International Economic Journal, Korean International Economic Association, vol. 13(4), pages 1-15, December. [Downloadable!] (restricted)
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This page was last updated on 2009-12-21.


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