In the present text the author deals with both conventional and new approaches to trade theory and policy, treating all important research topics in international economics and clarifying their mathematical intricacies. The textbook is intended for undergraduates, graduates and researchers alike. It addresses undergraduate students with extremely clear language and illustrations, making even the most complex trade models accessible. In the appendices, graduate students and researchers will find self-contained treatments in mathematical terms. The new edition has been thoroughly revised and updated to reflect the latest research on international trade.

This book emphasizes that a trading equilibrium is general rather than partial, and is often best modeled using dual or envelope functions.

This book expounds trade theory emphasizing that a trading equilibrium is general rather than partial, and is often best modelled using dual or envelope functions. This yields a compact treatment of standard theory, clarifies some errors and confusions, and produces some new departures. In particular, the book (i) gives unified treatments of comparative statics and welfare, (ii) sheds new light on the factor-price equalization issue, (iii) treats the modern specific-factor model in parallel with the usual Heckscher-Ohlin one, (iv) analyses the balance of payments in general equilibrium with flexible and fixed prices, (v) studies imperfect competition and intra-industry trade.

The development of international trade theory has created a wide array of different theories, concepts and results. Nevertheless, trade theory has been split between partial and conflicting representations of international e- nomic interactions. Diverse trade models have co-existed but not in a structured relationship with each other. Economic students are introduced to international economic interactions with severally incompatible theories in the same course. In order to overcome incoherence among multiple theories, we need a general theoretical framework in a unified manner to draw together all of the disparate branches of trade theory into a single - ganized system of knowledge. This book provides a powerful – but easy to operate - engine of analysis that sheds light not only on trade theory per se, but on many other dim- sions that interact with trade, including inequality, saving propensities, education, research policy, and knowledge. Building and analyzing various tractable and flexible models within a compact whole, the book helps the reader to visualize economic life as an endless succession of physical ca- tal accumulation, human capital accumulation, innovation wrought by competition, monopoly and government intervention. The book starts with the traditional static trade theories. Then, it develops dynamic models with capital and knowledge under perfect competition and/or monopolistic competition. The uniqueness of the book is about modeling trade dyn- ics.

Scholarly survey of current developments, including the Heckscher-Olin theory, and practical applications in commercial policies of Europe and the U.S.A.

This textbook aims to explain the principles in international trade theory and show how some useful trade models work. The book concentrates on two fundamental issues in international trade, that is, the 'determinants of trade patterns' and the 'welfare gains from trade' in various economic environments. Chapters 1 through 3 assume perfect competition and explore the workings of the Ricardian model, the Heckscher-Ohlin-Samuelson model, the Specific Factors model and more recent development of the Eaton-Kortum model. Chapter 4 examines various welfare criteria and their relation to the 'social utility function' and, then, proves the basic gains-from-trade proposition. Chapters 5 and 6 examine the implications of imperfect competition using a unified oligopolistic model and variations of the monopolistically competitive model. The roles of the strategic interaction among firms, the economies of scale, product differentiation, the heterogeneity of firms, and the geographic distribution of agents will be highlighted. Chapter 7 deals with some trade policy issues such as the effects of tariffs, the relation of tariffs to other policy measures, and the so-called strategic trade policies.

This book was mainly written while I stayed at the Catholic University of Louvain. Professor Anton P. Barten was the one who did not only give me a warm welcome in Louvain, but also supported my research with most valuable comments and constructive criticisms. In addition I benefitted from dis cussions with Erik Schokkaert, Denis de Crombrugghe and Jo Baras on various subjects, such as the small-sample correction of Chapter 9. The arduous task of transferring my neat handwriting into a readable typescript was excellently taken care of by Brs. E. Crabbe and notably Brs. F. Duij sens, even after working hours. Mrs. A. Molders prevented me of making serious abuse of the English language. My admiration for Carien, finally, is an exponential function of the patience and enthusiasm with which she sup ported my research. Chapter I is a general introduction to the subject of linkage models, and it contains few mathematical elaborations. Chapters 2 to 4 use more, but elementary, mathematics, and treat several aspects related to the deriva tion, interpretation and estimation of linkage models. Chapter 2 deals vii tll the theory of import allocation models, Chapter J treats the problem of defining and interpreting elasticities of substitution, while Chapter 4 is concerned with the econometric problems related to the estimation of mul tivariate models with linear restrictions, such as import allocation models.

From acclaimed political scientist Diana Mutz, a revealing look at why people's attitudes on trade differ from their own self-interest Winners and Losers challenges conventional wisdom about how American citizens form opinions on international trade. While dominant explanations in economics emphasize personal self-interest—and whether individuals gain or lose financially as a result of trade—this book takes a psychological approach, demonstrating how people view the complex world of international trade through the lens of interpersonal relations. Drawing on psychological theories of preference formation as well as original surveys and experiments, Diana Mutz finds that in contrast to the economic view of trade as cooperation for mutual benefit, many Americans view trade as a competition between the United States and other countries—a contest of us versus them. These people favor trade as long as they see Americans as the "winners" in these interactions, viewing trade as a way to establish dominance over foreign competitors. For others, trade is a means of maintaining more peaceful relations between countries. Just as individuals may exchange gifts to cement relationships, international trade is a tie that binds nations together in trust and cooperation. Winners and Losers reveals how people's orientations toward in-groups and out-groups play a central role in influencing how they think about trade with foreign countries, and shows how a better understanding of the psychological underpinnings of public opinion can lead to lasting economic and societal benefits.

International trade is the core foundation of globalisation. This current and up-to-date volume brings together the finest academics working in the field today, containing contributions in key areas of policy research, such as, modelling frameworks, trade policy, trade and migration, trade and the environment, trade and unemployment.