Trade Gains in Chaotic Equilibrium
AbstractIn 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.
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Bibliographic InfoPaper provided by Research Institute for Economics & Business Administration, Kobe University in its series Discussion Paper Series with number 77.
Length: 12 pages
Date of creation: Apr 1997
Date of revision: Jul 1997
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International trade; Economic theory;
Other versions of this item:
- F10 - International Economics - - Trade - - - General
- F14 - International Economics - - Trade - - - Empirical Studies of Trade
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