PARTⅠTrade theory ch17国际经济学 克鲁格曼.docx
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PARTⅠTrade theory ch17国际经济学 克鲁格曼.docx
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PARTⅠTradetheorych17国际经济学克鲁格曼
BriefContent
Preface1
1Introduction2
PartⅠInternationalTradeTheory4
2WorldTrade:
AnOverview4
3LaborProductivityandComparativeAdvantage:
TheRicardianModel8
4Resources,ComparativeAdvantage,andIncomeDistribution14
5TheStandardTradeModel25
6EconomiesofScale,ImperfectCompetitionandInternationalTrade31
7InternationalFactorMovements40
PartⅡInternationalTradePolicy46
8TheInstrumentsofTradePolicy46
9ThePoliticalEconomyofTradePolicy52
10TradePolicyinDevelopingCountries58
11ControversiesinTradePolicy62
Preface
§1.SomedistinctivefeaturesofInternationalEconomics:
TheoryandPolicy.
Thisbookemphasizesseveralofthenewertopicsthatpreviousauthorsfailedtotreatinasystematicway:
·Assetmarketapproachtoexchangeratedetermination.
·Increasingreturnsandmarketstructure.
·Politicsandtheoryoftradepolicy.
·Internationalmacroeconomicpolicycoordination
·Thewordcapitalmarketanddevelopingcountries.
·Internationalfactormovements.
§2.Learningfeatures:
·Casestudies
·Specialboxes
·Captioneddiagrams
·Summaryandkeyterms
·Problems
·Furtherreading
§3.Referencebooks:
·[美]保罗•克鲁格曼,茅瑞斯•奥伯斯法尔德,《国际经济学》,第8版,中译本,中国人民大学出版社,2012.
·DominickSalvatore,InternationalEconomics,PrenticeHallInternational,2011.
Chapter1
Introduction
·Nationsaremorecloselylinkedthroughtradeingoodsandservices,throughflowsofmoney,andthroughinvestmentthaneverbefore.
§1.Whatisinternationaleconomicsabout?
Seventhemesrecurthroughoutthestudyofinternationaleconomics:
·Thegainsfromtrade
(Nationalwelfareandincomedistribution)
·Thepatternoftrade
·Protectionism
·Thebalanceofpayments
·Exchangeratedetermination
·Internationalmacroeconomicpolicycoordination
·Internationalcapitalmarket
§2.Internationaleconomics:
tradeandmoney
·PartI(chapters2through7):
internationaltradetheory
·PartII(chapters8through11):
internationaltradepolicy
·PartIII(chapters12through17):
internationalmonetarytheory
·PartIV(chapters18through22):
internationalmonetarypolicy
Chapter2
WorldTrade:
AnOverview
§1WhoTradeswithWhom?
1.SizeMatters:
TheGravityModel
•Thesizeofaneconomyisdirectlyrelatedtothevolumeofimportsandexports.
•Largereconomiesproducemoregoodsandservices,sotheyhavemoretosellintheexportmarket.Largereconomiesgeneratemoreincomefromthegoodsandservicessold,sopeopleareabletobuymoreimports.
•3ofthetop10tradingpartnerswiththeUSin2003werealsothe3largestEuropeaneconomies:
Germany,UKandFrance.Thesecountrieshavethelargestgrossdomesticproduct(GDP)inEurope.
Culturalaffinity:
iftwocountrieshaveculturalties,itislikelythattheyalsohavestrongeconomicties.
Geography:
oceanharborsandalackofmountainbarriersmaketransportationandtradeeasier.
2.DistanceMatters:
TheGravityModel
Distancebetweenmarketsinfluencestransportationcostsandthereforethecostofimportsandexports.Distancemayalsoinfluencepersonalcontactandcommunication,whichmayinfluencetrade.
Estimatesoftheeffectofdistancefromthegravitymodelpredictthata1%increaseinthedistancebetweencountriesisassociatedwithadecreaseinthevolumeoftradeof0.7%to1%.
Borders:
crossingbordersinvolvesformalitiesthattaketimeandperhapsmonetarycostsliketariffs.Theseimplicitandexplicitcostsreducetrade.Theexistenceofbordersmayalsoindicatetheexistenceofdifferentlanguagesordifferentcurrencies,eitherofwhichmayimpedetrademore.
3.Thegravitymodel
Thegravitymodelis:
wherea,b,andcareallowedtodifferfrom1.
(Table2-1Example)
§2.TheChangingCompositionofTrade
1.HastheWorldBecome“Smaller”?
Thereweretwowavesofglobalization.
1840–1914:
economiesreliedonsteampower,railroads,telegraph,telephones.Globalizationwasinterruptedandreversedbywarsanddepression.
1945–present:
economiesrelyontelephones,airplanes,computers,internet,fiberoptics,…
2.ChangingCompositionofTrade
Today,mostofthevolumeoftradeisinmanufacturedproductssuchasautomobiles,computers,clothingandmachinery.
Servicessuchasshipping,insurance,legalfeesandspendingbytouristsaccountfor20%ofthevolumeoftrade.
Mineralproducts(e.g.,petroleum,coal,copper)andagriculturalproductsarearelativelysmallpartoftrade.
MultinationalCorporationsandOutsourcing
Before1945,multinationalcorporationsplayedasmallroleworldtrade.
ButtodayaboutonethirdofallUSexportsand42%ofallUSimportsaresalesfromonedivisionofamultinationalcorporationtoanother.
Chapter3
LaborProductivityandComparativeAdvantage:
TheRicardianModel
*Countriesengageininternationaltradefortwobasicreasons:
·Comparativeadvantage:
countriesaredifferentintechnology(chapter3)orresource(chapter4).
·Economicsofscale(chapter6).
*Allmotivesareatworkintherealworldbutonlyonemotiveispresentineachtrademodel.
§1.Theconceptofcomparativeadvantage
1.Opportunitycost:
Theopportunitycostofrosesintermsofcomputersisthenumberofcomputersthatcouldhavebeenproducedwiththeresourcesusedtoproduceagivennumberofroses.
Table3-1HypotheticalChangesinProduction
MillionRosesThousandComputers
UnitedStates
-10
+100
SouthAmerica
+10
-30
Total
0
+70
2.Comparativeadvantage:
Acountryhasacomparativeadvantageinproducingagoodiftheopportunitycostofproducingthatgoodintermsofothergoodsislowerinthatcountrythanitisinothercountries.
·Denotedbyopportunitycost.
·Arelativeconcept:
relativelaborproductivityorrelativeabundance.
3.Thepatternoftrade:
Tradebetweentwocountriescanbenefitbothcountriesifeachcountryexportsthegoodsinwhichithasacomparativeadvantage.
§2.Aone-factoreconomy
1.productionpossibilities:
Figure3-1Home’sProductionPossibilityFrontier
2.Relativepriceandsupply
·Laborwillmovetothesectorwhichpayshigherwage.
·If
(
wageinthecheesesectorishigher),theeconomywillspecializeintheproductionofcheese.
·Inaclosedeconomy,
.
·Ifeachcountryhasabsoluteadvantageinonegoodrespectively,willthereexistcomparativeadvantage?
§3.Tradeinaone-factorworld
·Model:
2×1×2
·Assume:
Homehasacomparativeadvantageincheese.
Home’srelativeproductivityincheeseishigher.
Home’spretraderelativepriceofcheeseislowerthanforeign.
·Theconditionunderwhichhomehasthecomparativeadvantageinvolvesallfourunitlaborrequirement,notjusttwo.
1.Determiningtherelativepriceaftertrade
·Relativepriceismoreimportantthanabsoluteprice,whenpeoplemakedecisionsonproductionandconsumption.
·Generalequilibriumanalysis:
RSequalsRD.(Worldgeneralequilibrium)
·RS:
a“step”withflatsectionslinkedbyaverticalsection.
Figure3-3WorldRelativeSupplyandDemand
·RD:
subsititutioneffects
·Relativepriceaftertrade:
betweenthetwocountries’pretradeprice.
(Howwillthesizeofthetradingcountriesaffecttherelativepriceaftertrade?
Whichcountry’slivingconditionimprovesmore?
Isitpossiblethatacountryproducebothgoods?
)
2.Thegainsfromtrade
Themutualgaincanbedemonstratedintwoalternativeways.
·Tothinkoftradeasanindirectmethodofproduction:
or
·Toexaminehowtradeaffectseachcountry’spossibilitiesofconsumption.
Figure3-4TradeExpandsConsumptionPossibilities
(Howwillthetermsoftradechangeinthelong-term?
Arethereincomedistributioneffectswithincountries?
)
3.Anumericalexample:
·Twocrucialpoints:
Whentwocountriesspecializeinproducingthegoodsinwhichtheyhaveacomparativeadvantage,bothcountriesgainfromtrade.
Comparativeadvantagemustnotbeconfusedwithabsoluteadvantage;itiscomparative,notabsolute,advantagethatdetermineswhowillandshouldproduceagood.
Table3-2UnitLaborRequirements
CheeseWine
Home
hourperpound
hourspergallon
Foreign
hoursperpound
hourspergallon
absoluteadvantage;relativeprice;specialization;thegainsfromtrade.
4.Relativewages
·Itispreciselybecausetherelativewageisbetweentherelativeproductivitiesthateachcountryendsupwithacostadvantageinonegood.
;
·Relativewagesdependonrelativeproductivityandrelativedemandongoods.
Specialbox:
Dowagesreflectproductivity?
·Debatesaboutrelativewagesandrelativelaborproductivity.
·Long-runconvergenceinproductivityproduceslong-runconvergenceinwages.
§4.Misconceptionsaboutcomparativeadvantage
Thepropositionthattradeisbeneficialisunqualified.Thatis,thereisnorequirementthatacountrybe“competitive”orthatthetradebe“fair”.
1.Productivityandcompetitiveness
myth1:
Freetradeisbeneficialonlyifyourcountryisstrongenoughtostanduptoforeigncompetition.
·Thegainsfromtradedependoncomparativeadvantageratherthanabsoluteadvantage.
·Thecompetitiveadvantageofanindustrydependonrelativelaborproductivityandrelativewage.
·Absoluteadvantage:
neitheranecessarynorasufficientconditionforcomparativeadvantage(orforthegainsfromtrade).
2.Thepauperlaborargument
myth2:
Foreigncompetitionisunfairandhurtsothercountrieswhenitisbasedonlowwages.
·Whetherthelowercostofforeignexportgoodsisduetohighproductivityorlowwagesdoesnotmatter.Allthatmattertohomeisthatitismoreefficientto“produce”thosegoodsindirectlythantoproducedirectly.
3.Exploitation
myth3:
Tradeexploitsacountryand
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