IDEAS home Printed from https://ideas.repec.org/p/ess/wpaper/id4258.html
   My bibliography  Save this paper

On Graham’s Theory of Multicountry Multicommodity Trade

Author

Listed:
  • Rajas Parchure

Abstract

Mathematical formulations of Frank D. Graham’s theory of multicountry multicommodity trade have not provided numerical methods for finding the world trade equilibrium. Graham was in possession of such methods but his writings do not reveal what they were. This paper proposes an algorithm for finding Graham’s world trade equilibrium. Modifications to the algorithm that are needed to cover such subjects as intercountry transfers, tariffs and taxes, have been illustrated. Further, it is shown that Graham’s theory can be extended to accommodate international trade in intermediate capital goods. URL: [http://210.212.173.67/pdfs/working%20papers/wp23.pdf].

Suggested Citation

  • Rajas Parchure, 2011. "On Graham’s Theory of Multicountry Multicommodity Trade," Working Papers id:4258, eSocialSciences.
    • Handle: RePEc:ess:wpaper:id:4258
    Note: Institutional Papers
    as

    Download full text from publisher

    File URL: http://www.esocialsciences.org/Download/repecDownload.aspx?fname=Document12762011530.2201349.pdf&fcategory=Articles&AId=4258&fref=repec
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Dornbusch, Rudiger & Fischer, Stanley & Samuelson, Paul A, 1977. "Comparative Advantage, Trade, and Payments in a Ricardian Model with a Continuum of Goods," American Economic Review, American Economic Association, vol. 67(5), pages 823-839, December.
    2. Frank D. Graham, 1932. "The Theory of International Values," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 46(4), pages 581-616.
    3. Jochen Schumann & Horst Todt, 1957. "Classical Theory, Graham's Theory, and Linear Programming in International Trade: Comment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 71(3), pages 464-469.
    4. Kalyan K. Sanyal & Ronald W. Jones, 2018. "The Theory of Trade in Middle Products," World Scientific Book Chapters, in: International Trade Theory and Competitive Models Features, Values, and Criticisms, chapter 13, pages 203-231, World Scientific Publishing Co. Pte. Ltd..
    5. Lloyd A. Metzler, 1942. "The Transfer Problem Reconsidered," Journal of Political Economy, University of Chicago Press, vol. 50(3), pages 397-397.
    6. Frank D. Graham, 1923. "The Theory of International Values Re-examined," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 38(1), pages 54-86.
    7. Lionel W. McKenzie, 1953. "Specialisation and Efficiency in World Production," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 21(3), pages 165-180.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Dvoskin, Ariel & Ianni, Guido, 2021. "Produced means of production and the chain of comparative advantages," Structural Change and Economic Dynamics, Elsevier, vol. 59(C), pages 635-647.
    2. Giri, Rahul, 2012. "Local costs of distribution, international trade costs and micro evidence on the law of one price," Journal of International Economics, Elsevier, vol. 86(1), pages 82-100.
    3. Hideo Sato, 2022. "A multi‐country, multi‐commodity Ricardian trade model with link commodities and Keynesian unemployment," Metroeconomica, Wiley Blackwell, vol. 73(2), pages 441-465, May.
    4. Hummels, David & Ishii, Jun & Yi, Kei-Mu, 2001. "The nature and growth of vertical specialization in world trade," Journal of International Economics, Elsevier, vol. 54(1), pages 75-96, June.
    5. Nowak, Jean-Jacques & Petit, Sylvain & Sahli, Mondher, 2010. "Tourism and Globalization: The International Division of Tourism Production," MPRA Paper 75083, University Library of Munich, Germany.
    6. Pol Antràs & Davin Chor, 2021. "Global Value Chains," NBER Working Papers 28549, National Bureau of Economic Research, Inc.
    7. Ronald W. Jones, 2018. "On Blending Competitive Trade Models," World Scientific Book Chapters, in: International Trade Theory and Competitive Models Features, Values, and Criticisms, chapter 19, pages 319-361, World Scientific Publishing Co. Pte. Ltd..
    8. Vladimir Gligorov, 2016. "The Transfer and Adjustment Problems in the Balkans," wiiw Balkan Observatory Working Papers 125, The Vienna Institute for International Economic Studies, wiiw.
    9. Trionfetti, Federico, 2018. "Firm heterogeneity, comparative advantage and the transfer problem," European Economic Review, Elsevier, vol. 108(C), pages 246-258.
    10. Jonathan Eaton & Samuel Kortum, 2012. "Putting Ricardo to Work," Journal of Economic Perspectives, American Economic Association, vol. 26(2), pages 65-90, Spring.
    11. Buss, Adrian, 2013. "Capital controls and international financial stability: a dynamic general equilibrium analysis in incomplete markets," Working Paper Series 1578, European Central Bank.
    12. Pierre M. Picard & Alessandro Tampieri, 2016. "Income Effects and Vertical Differentiation in International Trade," DEM Discussion Paper Series 16-05, Department of Economics at the University of Luxembourg.
    13. Eden, Benjamin, 2007. "Inefficient trade patterns: Excessive trade, cross-hauling and dumping," Journal of International Economics, Elsevier, vol. 73(1), pages 175-188, September.
    14. Andrew B. Bernard & Jonathan Eaton & J. Bradford Jensen & Samuel Kortum, 2003. "Plants and Productivity in International Trade," American Economic Review, American Economic Association, vol. 93(4), pages 1268-1290, September.
    15. Andrei A Levchenko & Jing Zhang, 2013. "The Global Labor Market Impact of Emerging Giants: A Quantitative Assessment," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 61(3), pages 479-519, August.
    16. Jonathan Eaton & Samuel Kortum & Brent Neiman & John Romalis, 2016. "Trade and the Global Recession," American Economic Review, American Economic Association, vol. 106(11), pages 3401-3438, November.
    17. Metiu, Norbert, 2021. "Anticipation effects of protectionist U.S. trade policies," Journal of International Economics, Elsevier, vol. 133(C).
    18. Andersen, Torben M., 2005. "Product market integration, wage dispersion and unemployment," Labour Economics, Elsevier, vol. 12(3), pages 379-406, June.
    19. Jacob Frenkel & Assaf Razin & Efraim Sadka, 1991. "International Taxation in an Integrated World," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061430, April.
    20. Kondo, Illenin O., 2018. "Trade-induced displacements and local labor market adjustments in the U.S," Journal of International Economics, Elsevier, vol. 114(C), pages 180-202.

    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:ess:wpaper:id:4258. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Padma Prakash (email available below). General contact details of provider: http://www.esocialsciences.org .

    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.