IDEAS home Printed from https://ideas.repec.org/p/ums/papers/2016-07.html
   My bibliography  Save this paper

Globalisation and Inequality: A Dynamic General Equilibrium Model of Unequal Exchange

Author

Listed:
  • Veneziani, Roberto

    (School of Economics and Finance, Queen Mary University of London)

  • Yoshihara, Naoki

    (Department of Economics, University of Massachusetts, Amherst)

Abstract

A dynamic general equilibrium model that generalises Roemer's [23] economy with a global capital market is analysed. An axiomatic analysis of the concept of unequal exchange (UE) between countries is developed at general dynamic equilibria. The class of UE definitions that satisfy three fundamental properties - including a correspondence between wealth, class and UE exploitation status - is completely characterised. It is shown that this class is nonempty and a definition of UE exploitation between countries is proposed, which is theoretically robust and firmly anchored to empirically observable data. The full class and UE exploitation structure of the international economy is derived in equilibrium.

Suggested Citation

  • Veneziani, Roberto & Yoshihara, Naoki, 2016. "Globalisation and Inequality: A Dynamic General Equilibrium Model of Unequal Exchange," UMASS Amherst Economics Working Papers 2016-07, University of Massachusetts Amherst, Department of Economics.
  • Handle: RePEc:ums:papers:2016-07
    as

    Download full text from publisher

    File URL: http://www.umass.edu/economics/publications/2016-07.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    More about this item

    Keywords

    Exploitation; classes; unequal exchange; international economy.;
    All these keywords.

    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ums:papers:2016-07. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Daniele Girardi (email available below). General contact details of provider: https://edirc.repec.org/data/deumaus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.