Show simple item record

dc.contributor.authorGrinols, Earl L.
dc.contributor.authorSilva, Peri A.
dc.date.accessioned2005-08-13T17:05:39Z
dc.date.available2005-08-13T17:05:39Z
dc.date.copyrightSeptember 2004en
dc.date.copyrightSeptember 2004
dc.date.issued2005-08-13T17:05:39Z
dc.identifier.urihttp://hdl.handle.net/2104/316
dc.description.abstractProving the existence of equilibrium having specified properties is often synonymous with proving the result in trade theory. The Grandmont-McFadden proposition that any autarkic allocation can be replaced by a Pareto superior free trade equilibrium involving domestic transfers only depends on an existence proof, for example. Comparable proofs for free trade areas have not been provided to date because unharmonized tariffs imply goods prices that vary by member country and require potentially complicated rules of origin that block standard proofs. This paper fills this gap by providing the missing proof that starting from an arbitrary world trade equilibrium, a free trade area equilibrium can be found involving domestic transfers only that is at least as satisfactory for every consumer as the original allocation.en
dc.format.extent181303 bytes
dc.format.mimetypeapplication/pdf
dc.language.isoen_USen
dc.relation.ispartofseriesBaylorBusiness Economics: Working Papers Seriesen
dc.relation.ispartofseries2004-51-ECOen
dc.subjectWalrasian Equilibriumen
dc.subjectFree Trade Areasen
dc.subjectRules of Originen
dc.subjectWelfare Analysisen
dc.subjectJEL Classification: D60en
dc.subjectJEL Classification: F13en
dc.subjectJEL Classification: F15en
dc.titleExistence of Equilibriuim in Welfare-enhancing Free Trade Areasen
dc.typeWorking Paperen


Files in this item

Thumbnail

This item appears in the following Collection(s)

Show simple item record