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Gains from Trade with Overlapping Generations

Author

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  • Kemp, M.C.
  • Wong, K.Y.

Abstract

This 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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(This abstract was borrowed from another version of this item.)
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(This abstract was borrowed from another version of this item.)

Suggested Citation

  • 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.
  • Handle: RePEc:fth:washer:92-06
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    Cited by:

    1. repec:ebl:ecbull:v:6:y:2006:i:5:p:1-8 is not listed on IDEAS
    2. Akira Yakita, 2014. "Effects of capital taxation on economies with different demographic changes: short term versus long term," Journal of Population Economics, Springer;European Society for Population Economics, vol. 27(1), pages 257-273, January.
    3. Serdar Sayan & Ali Emre Uyar, 2001. "Directions of Trade Flows and Labor Movements between high-and Low-Population Growth Countries: An Overlapping Generations General Equilibrium Analysis," Working Papers 0108, Department of Economics, Bilkent University.
    4. Fedotenkov, Igor & van Groezen, Bas & Meijdam, Lex, 2012. "International trade with pensions and demographic shocks," MPRA Paper 74874, University Library of Munich, Germany, revised 31 May 2016.
    5. Akira Yakita, 2012. "Different demographic changes and patterns of trade in a Heckscher–Ohlin setting," Journal of Population Economics, Springer;European Society for Population Economics, vol. 25(3), pages 853-870, July.
    6. 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.
    7. Cremers, Emily T., 2005. "Intergenerational Welfare And Trade," Macroeconomic Dynamics, Cambridge University Press, vol. 9(05), pages 585-611, November.
    8. Naito, Takumi & Zhao, Laixun, 2009. "Aging, transitional dynamics, and gains from trade," Journal of Economic Dynamics and Control, Elsevier, vol. 33(8), pages 1531-1542, August.
    9. 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, March.
    10. Fedotenkov, I., 2012. "Pensions and ageing in a globalizing world. International spillover effects via trade and factor mobility," Other publications TiSEM 8830bc21-4138-4479-8459-a, Tilburg University, School of Economics and Management.
    11. Kenji Fujiwara, 2006. "Why Resisting Globalization Can Be Reasonable," Economics Bulletin, AccessEcon, vol. 6(5), pages 1-8.

    More about this item

    Keywords

    trade policy ; social welfare ; economic models;

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