JOURNAL ARTICLE
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Handel - Wozu?
Optimale Zeitprofile des Pro-Kopf-Konsums mit und ohne Handel
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 101 (1981), Iss. 3 : pp. 299–319
2 Citations (CrossRef)
Additional Information
Article Details
Gabisch, Günter
Cited By
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Ökonomie und Mathematik
Structural Change Induced by Foreign Trade. What Are the Advantages for the Country?
Krelle, Wilhelm
1987
https://doi.org/10.1007/978-3-642-72672-9_54 [Citations: 0] -
Theorie des wirtschaftlichen Wachstums
Wachstum und Außenhandel
Krelle, Wilhelm
1985
https://doi.org/10.1007/978-3-662-10444-6_11 [Citations: 0]
Abstract
The analysis of steady state paths in the dynamic 2 x 2 x 2-model of international trade leads to the following results: (a) trade may lower the per capita consumtion, (b) trading partners cannot simultaneously increase their per capita consumption as compared to the optimal path in autarky, (c) if both trading partners simultaneously maximize their per capita consumption trade will vanish. A game-theoretic analysis of these results proofs that a Wash-equilibrium in pure strategies exists. For general equilibrium paths optimal time profiles for per capita consumption can be derived. By introducing differential games into this model the Heckscher-Ohlin model can be generalized. Different rates of time preference will lead to international trade in the long run. The lower rate is in the long run associated with the higher capital labour ratio and with the export of the capital intensive commodity.