Unemployment, tariffs and the theory of international trade

In this paper, we introduce diminishing returns to scale in Brecher's model of international trade with unemployment and then investigate some issues embodied in the theory of international trade. Our principal results are that tariffs need not improve a country's terms of trade and that c...

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Bibliographic Details
Published in:Journal of international economics 1977-08, Vol.7 (3), p.295-306
Main Authors: Batra, Raveendra N., Seth, Avinash C.
Format: Article
Language:English
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Summary:In this paper, we introduce diminishing returns to scale in Brecher's model of international trade with unemployment and then investigate some issues embodied in the theory of international trade. Our principal results are that tariffs need not improve a country's terms of trade and that capital accumulation also need not result in a predictable change in the terms of trade.
ISSN:0022-1996
1873-0353
DOI:10.1016/0022-1996(77)90042-3