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The Structure and Performance of the World Market in a Cobb-Douglas Example

  • Ben Zissimos

    ()

    (Department of Economics, Vanderbilt University)

In an international trading economy where countries set tariffs strategically, modeled using a Cobb-Douglas example, this paper studies the relationship between the structure and the performance of the world market. Using new results from monotone comparative statics in a Shapley-Shubik market game, replication of such an international trading economy is studied. It is shown that, as the economy is replicated, the equilibrium converges monotonically towards the equilibrium of a competitive equilibrium model of international trade. The distributional implications of replication are also evaluated.

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File URL: http://www.accessecon.com/pubs/VUECON/vu06-w23.pdf
File Function: First version, 2006
Download Restriction: no

Paper provided by Vanderbilt University Department of Economics in its series Vanderbilt University Department of Economics Working Papers with number 0623.

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Date of creation: Nov 2006
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Handle: RePEc:van:wpaper:0623
Contact details of provider: Web page: http://www.vanderbilt.edu/econ/wparchive/index.html

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  1. Staiger, Robert W., 1995. "International rules and institutions for trade policy," Handbook of International Economics, in: G. M. Grossman & K. Rogoff (ed.), Handbook of International Economics, edition 1, volume 3, chapter 29, pages 1495-1551 Elsevier.
  2. Bagwell,K. & Mavroidis,P.C. & Staiger,R.W., 2003. "The case for auctioning countermeasures in the WTO," Working papers 14, Wisconsin Madison - Social Systems.
  3. Kyle Bagwell & Robert W. Staiger, 2004. "The Economics of the World Trading System," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262524341, June.
  4. BLOCH, Francis & GHOSAL, Sayantan, 1994. "Stable Trading Structures in Bilateral Oligopolies," CORE Discussion Papers 1994056, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  5. Amir, Rabah & Lambson, Val E, 2000. "On the Effects of Entry in Cournot Markets," Review of Economic Studies, Wiley Blackwell, vol. 67(2), pages 235-54, April.
  6. Syropoulos, Constantinos, 2002. "Optimum Tariffs and Retaliation Revisited: How Country Size Matters," Review of Economic Studies, Wiley Blackwell, vol. 69(3), pages 707-27, July.
  7. Barbara J. Spencer & James A. Brander, 1982. "Tariff Protection and Imperfect Competition," Working Papers 517, Queen's University, Department of Economics.
  8. Shapley, Lloyd S & Shubik, Martin, 1977. "Trade Using One Commodity as a Means of Payment," Journal of Political Economy, University of Chicago Press, vol. 85(5), pages 937-68, October.
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