Bagwell, Kyle (contributor); Staiger, Robert W. (contributor) - 2002 - [Elektronische Ressource]
conditions may be expressed. For the home country, imports of x
are denoted as M
x
(p(τ,p
w
),p
w
) ≡ C
x
(p(τ,p
w
),p
w
)−Q
x
(p … countries and thereby achieve world-wide economic efficiency. Of course,
reciprocal free trade (i.e., τ = τ
∗
=1)isamongtheefficient … the traditional economic approach, it is the pursuit of terms-of-trade gains -
and this pursuit alone - that leads …