国际贸易理论与实务ch.3neo-classical trade theory国际贸易理论与实务ch.3 neo-classical trade theory国际贸易理论与实务ch.3 neo-classical trade theory国际贸易理论与实务ch.3 neo-classical trade theory.pptVIP

  §1 Gains from Trade in Neoclassical Trade Theory Increasing opportunity costs on the PPF The shape is concave to the origin or bowed out. 2. General equilibrium and gains in autarky · 3. General equilibrium and gains after the introduction of international trade As (PX/PY)I(PX/PY)II, Country I has a comparative advantage in good X while Country II has a comparative advantage in good Y. Country I should specialize in and export good X； Country II should specialize in and export good Y。 PX/Y PW P’X/Y flatter than the autarky price line in Country II steeper than the autarky price line in Country I. §2 Reciprocal Demand Theory  A country’s offer curve It indicates the quantity of imports and exports the country is willing to buy and sell on world markets at all possible relative prices. It shows the country’s willingness to trade at various possible terms of trade. A combination of the demand for imports and the supply of exports. First verbalized by John Stuart Mill, and then put into graphic form by Alfred Marshall and F.Y. Edgworth. 2. Trading Equilibrium 3. Measurement of terms of trade TOT： The price of exports divided by the price of imports. Price terms of trade, net barter terms of trade In previous example, Country I’s TOT: PX/PY Country II’s TOT: PY/PX. Economic interpretation of the TOT: As the price of exports rises relative to the price of imports, each unit of a country’s exports is able to purchase a larger quantity of imports. Since a country exports and imports many goods, a price index for a given year must therefore be calculated. Thus the terms of trade of a particular country in a given year is the ratio of the countrys export price index to its import price index in the given year (usually multiplied by 100). If the TOT i