Brown, Drusilla K. (contributor); Kiyota, Kōzō (contributor) - 2004 - [Elektronische Ressource]
competition experiments and
Section 6 concludes.
2. A Two-Country World Economy with Distortionary Taxes
We study … dynamic features. First, the payoffs are dynamic because they capture the equilibrium
dynamics that take the world economy … the trade balance equals b
0
.
9
Competitive Equilibrium
A competitive equilibrium for this two-country world …