Equilibrium price. Equilibrium allocation: x=xi(p,p·w2), Note: A p* for any >0 is also an equilibrium price. Offer curve: (p)(p, p. w;). The equilibrium is the intersection point of the offer curves. Excess demand function:
Chapter organization Introduction International Labor mobility International Borrowing and Lending Direct Foreign Investment and Multinational Firms Summary Appendix: More on Intertemporal Trade
Countries engage in international trade for two basic reasons Countries trade because they differ either in their resources or in technology Countries trade in order to achieve scale economies or increasing returns in production
Introduction A Standard Model of Trading Economy International Transfers of Income: Shifting the RD Curve Tariffs and Export Subsidies: Simultaneous Shifts in RS and RD Summary Appendix: Representing International Equilibrium with Offer Curves
Chapter Organization Introduction A Model of a Two-Factor Economy Effects of International Trade Between Two-Factor Economies Empirical Evidence on the Heckscher-- Model Summary Appendix: Factor Prices, Goods Prices, and Input Choices
Introduction The Specific Factors Model International Trade in the Specific Factors Model Income Distribution and the Gains from Trade The Political Economy of Trade: A Preliminary View Summary Appendix: Further Details on Specific Factors
Chapter organization Introduction The Concept of Comparative Advantage A One-Factor Economy Trade in a One-Factor World Comparative Advantage with Many Goods Adding Transport Costs and Nontraded Goods Summary
Thus far we have discussed mechanical loading and the stresses and strains caused by that We noted, however, that the environment can have an effect on the behavior of materials and structures. Let's first consider:
