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Technological Progress, Terms of Trade, and Monopolistic Competition

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  • Chul Chung
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    Abstract

    This paper examines welfare implications of technological progress in the new trade model with monopolistic competition. Our result shows that labor-augmenting technological progress turns the terms of trade against the growing country while capital-augmenting technological progress shifts them in favor of the growing country. Unlike the Findlay-Grubert theorem, both technological progresses are welfare-enhancing. The key channel for this welfare effect is the love of variety in the new trade model.

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    File URL: http://www.tandfonline.com/doi/abs/10.1080/10168730601180887
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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal International Economic Journal.

    Volume (Year): 21 (2007)
    Issue (Month): 1 ()
    Pages: 61-70

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    Handle: RePEc:taf:intecj:v:21:y:2007:i:1:p:61-70

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    Web page: http://www.tandfonline.com/RIEJ20

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    Related research

    Keywords: Findlay-Grubert theorem; technological progress; terms of trade; monopolistic competition; welfare;

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    Cited by:
    1. Kwok Tong Soo, 2013. "Intra-industry trade," Working Papers 33867578, Lancaster University Management School, Economics Department.

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