Can Productivity Progress in China hurt the US ? Professor Samuelson's Example Extended
AbstractThis paper develops a general equilibrium 3-good Ricardian model that extends Professor Samuelson's example on the impact of productivity progress published in JEP (summer 2004). Our model highlights Professor Samuelson's insight that productivity progress can change the pattern of trade which in turn can have dramatic welfare implications. It also shows that while Professor Samuelson is correct that productivity growth in one country can hurt another, the loss is not as permanent as his example appears to suggest. Continuing productivity growth in one country is likely to benefit all trading countries in the long run.
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Bibliographic InfoPaper provided by Monash University, Department of Economics in its series Monash Economics Working Papers with number 12/05.
Length: 20 pages
Date of creation: 02 Jul 2005
Date of revision:
Contact details of provider:
Postal: Department of Economics, Monash University, Victoria 3800, Australia
Web page: http://www.buseco.monash.edu.au/eco/
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Find related papers by JEL classification:
- F10 - International Economics - - Trade - - - General
- F11 - International Economics - - Trade - - - Neoclassical Models of Trade
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-07-17 (All new papers)
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- Jagdish Bhagwati & Arvind Panagariya & T. N. Srinivasan, 2004.
"The Muddles over Outsourcing,"
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