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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.

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Book Details

ISBN: 9780521299695
ISBN-10: 0521299691
Format: Paperback
(216mm x 138mm x 20mm)
Pages: 352
Imprint: Cambridge University Press
Publisher: Cambridge University Press
Publish Date: 30-Sep-1980
Country of Publication: United Kingdom

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