Review of Economic Studies Vol. 61 No. 3 1994
"Once-off" and Continuing Gains from Trade
Abstract
This paper employs a dynamic Ricardian trade model to provide a decomposition of the gains from trade into 'once-off' and continuing categories. In one version of the model, trade is always welfare enhancing; in the other, once-off losses may occur alongside dynamic gains. In both versions, the magnitude of once-off and continuing effects are related to absolute and relative country size, similarity in production structures, rates of time preference, and the productivity of R&D.
- DOI
- 10.2307/2297905
- Volume
- 61
- Issue
- 3
- Pages
- 589-601
- Language
- en
- Sources
- crossref bibtex:phds-export.bib openalex