Showing papers in "Journal of International Economics in 1975"

TL;DR: In this article, the authors developed a model of two trading countries which are related by a bilateral production externality and solved necessary conditions which must characterize an optimal tax structure from the point of view of one country are solved for and interpreted.

TL;DR: In this paper, the authors compared tariffs and quotas for restricting imports to improve the terms of trade in a world in which domestic and/or foreign supply and demand conditions are stochastic.

TL;DR: In this paper, it is argued that if the price elasticities of the demands for exports and imports are affected by the transition to flexible rates, and capital flows are assumed to be dependent on the exchange rate, the efficacy of monetary policy under flexible rates will not necessarily follow.

TL;DR: In contrast to the Emmanuel view that profit equalization leads to "unequal exchange" and deadweight loss from trade, this paper showed that deadweight losses arise from the absence of international lending markets.

TL;DR: In this paper, the authors examined the implications of a modified multi-factor proportional model by measuring the simultaneous impact of a variety of factor intensities on the comparative advantage of all U.S. (trading) industries, classified and disaggregated by the 1958 input-output table.

TL;DR: The authors analyzes the classic question: "Is there a presumption as to the direction the terms of trade will change when one country makes a transfer to another?" The model incorporates nontraded commodities and shows that the presumption depends upon the causes of trade, whether due to differences in demand or supply, and the sensitivity to price changes of demanders as opposed to suppliers.

TL;DR: In this paper, a model of the spot market for foreign exchange is used to study the behavior of exchange rates, official reserves, and speculators' profits when exchange rates are flexible, pegged, and regulated by gliding-parity rules based on averages of spot rates, levels and changes in reserves.

TL;DR: In this paper, an analysis is made of the attempts by national monetary authorities to insulate the domestic money market from balance of payments developments. The problem is analyzed in the context of a multicountry model linking the monetary base of a number of European countries.

TL;DR: In this article, the effects of trade on long-run equilibrium values of some important economic variables of a small growing economy under alternative assumptions about the saving behavior were discussed, and it was shown that long run gains from trade depend not only on the saving behaviour but also on the comparative advantage of the country at its autarkic steady state.

TL;DR: In this article, a first pass model of the adjustment path of an economy during the time interval between an exchange-rate change and the attainment of a new equilibrium is proposed, where a labor market and a commodity market are specified, with wage, price and employment adjustment as functions of excess demand.

TL;DR: This article considered the impact of localized technical progress (gains in technology which are confined to specific capital-labor ratios) on the pattern of trade and showed that technological improvements which are localized to particular techniques can cause factor intensity reversals so that, even if production functions are internationally identical, trade between nations may depend not only on relative factor endowments but also on the relative magnitudes of technical progress in each sector.

TL;DR: In this article, it was shown that the rental of the i th primary factor in terms of the product is a convex function of the relative price of the j th commodity if and only if the weighted elasticity of factor substitution is greater in whichever industry employs the primary factor relatively intensively.

TL;DR: In this paper, the familiar two-sector, clay-clay growth model of a closed economy has been turned into an open one for which an import function could be derived, by means of this function international trade with second-hand machines can be explained on technological grounds rather than on differences in the factor endowment between the trading countries.

TL;DR: This article used a model of trade in two commodities between two countries to establish the following proposition: if the foreign offer curve has no points of inflection and if for each home rate of duty the equilibrium most favorable to the home country is selected (or else there is only one equilibrium), home welfare first rises then declines while foreign welfare steadily falls.

TL;DR: In this article, an intertemporal model of an open economy incorporating risk in the export price is developed, and the optimal trajectories for consumption, investment, growth, exports, and resource allocation are determined using dynamic stochastic programming.

TL;DR: In this article, the authors apply the triangle method of measurement of the cost of protection to an industry with negative value-added in international prices, and present the production loss as a rising function of the output duties and of input coefficients and as a declining function of input duties.

TL;DR: In this paper, a stochastic model of an international payments system is formulated with the assumptions that: (1) international reserves are held in the form of a key currency; (2) fixed exchange rates are subject to infrequent change; (3) deficit countries depreciate more readily than surplus countries appreciate.