Patterns of trade and oligopoly equilibria: an example
In this paper we investigate, via an example, the effects of oligopolistic competition in a two countries two goods" Ricardian" model of international trade. By contrast with results that apply to the competitive free trade equilibrium, at the oligopoly equilibrium industries with different technologies can profitably survive. Moreover we show that, in an oligopolistic setting, the pattern of trade cannot be inferred neither by pre-trade prices, nor by the comparative advantage principle.
|Date of creation:||01 Aug 1992|
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