Gains from Trade with Overlapping Generations
AbstractThis paper examines the welfare effects of international trade in a context of overlapping generations. It shows that, for a single trading country, uncompensated free trade may be Pareto inferior to autarky. However, for each government there are compensation schemes which guarantee welfare improvements for all local individuals when free trade is allowed, or when for a small open economy the terms of trade improve or the number of tradable goods increases, or when a customs union is formed.
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Bibliographic InfoPaper provided by University of Washington, Department of Economics in its series Working Papers with number 92-06.
Length: 26 pages
Date of creation: 1992
Date of revision:
trade policy ; social welfare ; economic models;
Other versions of this item:
- Kemp, M.C. & Wong, K.Y., 1992. "Gains from Trade with Overlapping Generations," Discussion Papers in Economics at the University of Washington 92-06, Department of Economics at the University of Washington.
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- Akira Yakita, 2012. "Different demographic changes and patterns of trade in a Heckscher–Ohlin setting," Journal of Population Economics, Springer, vol. 25(3), pages 853-870, July.
- Naito, Takumi & Zhao, Laixun, 2009.
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- Akira Yakita, 2014. "Effects of capital taxation on economies with different demographic changes: short term versus long term," Journal of Population Economics, Springer, vol. 27(1), pages 257-273, January.
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GE, Growth, Math methods
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- Claustre Bajona, 2010. "Demographics in Dynamic Heckscher-Ohlin Models: Overlapping Generations versus Infinitely Lived Consumers," 2010 Meeting Papers 1172, Society for Economic Dynamics.
- Kenji Fujiwara & Tsuyoshi Shinozaki, 2010. "The Closed-Loop Effects Of Market Integration In A Dynamic Duopoly," Australian Economic Papers, Wiley Blackwell, vol. 49(1), pages 1-12, 03.
- Cremers, Emily T., 2005. "Intergenerational Welfare And Trade," Macroeconomic Dynamics, Cambridge University Press, vol. 9(05), pages 585-611, November.
- Claustre Bajona & Timothy J. Kehoe, 2006.
"Demographics in Dynamic Heckscher-Ohlin Models: Overlapping Generations Versus Infinitely Lived Consumers,"
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12566, National Bureau of Economic Research, Inc.
- Claustre Bajona & Timothy J. Kehoe, 2006. "Demographics in dynamic Heckscher-Ohlin models: overlapping generations versus infinitely lived consumers," Staff Report 377, Federal Reserve Bank of Minneapolis.
- repec:ebl:ecbull:v:6:y:2006:i:5:p:1-8 is not listed on IDEAS
- Kenji Fujiwara, 2006. "Why Resisting Globalization Can Be Reasonable," Economics Bulletin, AccessEcon, vol. 6(5), pages 1-8.
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