E-Book, Englisch, 203 Seiten
Theory of International Trade Under Uncertainty
E-Book, Englisch, 203 Seiten
ISBN: 978-1-4832-7151-4
Verlag: Elsevier Reference Monographs
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)
Autoren/Hrsg.
Weitere Infos & Material
1;Front Cover;1
2;A Theory of International Trade under Uncertainty;4
3;Copyright Page;5
4;Table of Contents;8
5;Preface;12
6;Chapter 1. Introduction;16
6.1;REFERENCES;18
7;Chapter 2. Elements of the Deterministic Theory of International Trade;20
7.1;2.1 THE RICARDIAN THEORY;20
7.2;2.2 THE HECKSCHER–OHLIN THEORY;28
8;Chapter 3. Elements of the Theory of Economic Decision Making under Uncertainty;42
8.1;3.1 EXPECTED UTILITY, RISK AVERSION, AND PORTFOLIO CHOICE;42
8.2;3.2 INCREASING RISK;46
8.3;3.3 MARKETS FOR RISK SHARING;47
8.4;3.4 INDIVIDUAL DECISION MAKING UNDER UNCERTAINTY: AN APPLICATION;50
9;Chapter 4. A Critical Survey of the Literature;58
9.1;4.1 THE GENERAL FRAMEWORK;58
9.2;4.2 EX-ANTE TRADING DECISIONS;59
9.3;4.3 EX-POST COMMODITY TRADING DECISIONS;65
9.4;4.4 FINANCIAL MARKETS;73
9.5;REFERENCES;76
10;Chapter 5. A Stock Market Economy;78
10.1;5.1 THE FRAMEWORK;79
10.2;5.2 FIRMS;80
10.3;5.3 CONSUMERS;84
10.4;5.4 AN ALTERNATIVE SPECIFICATION;86
10.5;5.5 EQUILIBRIUM;88
10.6;REFERENCES;92
11;Chapter 6. A Diagrammatic Exposition of Stock Market Equilibrium and the Balance of Payments;94
11.1;6.1 THE BASIC PROBLEMS;95
11.2;6.2 NO INTERNATIONAL TRADE IN SECURITIES;96
11.3;6.3 INTERNATIONAL TRADE IN SECURITIES;101
11.4;6.4 STOCK MARKET EQUILIBRIUM WITH A SAFE BOND;104
11.5;REFERENCES;106
12;Chapter 7. The Basic Propositions of the Pure Theory of International Trade Revised;108
12.1;7.1 COMPARATIVE COSTS THEORY;109
12.2;7.2 FACTOR-PRICE EQUALIZATION;114
12.3;7.3 THE STOLPER-SAMUELSON THEOREM;118
12.4;7.4 THE RYBCZYNSKI THEOREM;120
12.5;7.5 THE HECKSCHER-OHLIN THEOREM;121
12.6;REFERENCES;122
13;Chapter 8. Commercial Policy;124
13.1;8.1 THE DETERMINISTIC MODEL;124
13.2;8.2 PROTECTION UNDER UNCERTAINTY;126
13.3;8.3 WELFARE LOSSES FROM TARIFFS;134
13.4;REFERENCES;141
14;Chapter 9. Gains from Trade;142
14.1;9.1 GAINS FROM TRADE FOR A SMALL COUNTRY;142
14.2;9.2 AN IMPROVEMENT IN THE TERMS OF TRADE;146
14.3;9.3 GAINS FROM RESTRICTED TRADE;148
14.4;9.4 GAINS FROM TRADE FOR A LARGE COUNTRY;152
14.5;REFERENCE;152
15;Chapter 10. Efficient Intervention in Financial Capital Markets;154
15.1;10.1 FIRST-BEST TAXATION OF EQUITIES;154
15.2;10.2 A SECOND-BEST ARGUMENT FOR EQUITY TAXATION;157
15.3;10.3 OPTIMAL INTERVENTION IN THE PRESENCE OF CONFISCATION RISKS;164
15.4;REFERENCES;170
16;Chapter 11. A Dynamic Reformulation;172
16.1;11.1 THE MODEL;172
16.2;11.2 A DIAGRAMMATIC EXPOSITION;175
16.3;11.3 THE BASIC PROPOSITIONS;177
16.4;11.4 AN EXAMPLE;178
16.5;REFERENCES;186
17;Appendix A: Derivation of Equation (8.15);188
18;Appendix B: Derivation of the Optimal Policies for Section 10.3;192
19;Index;198
