Yasuhiro, TAKARADA - Research Institute of Economy, Trade and Industry (RIETI) - 2009
patterns of trade and the post-trading steady-state utility levels. Although the resource stock is reduced by trade, both … countries may still benefit from trade when they are specialized in production. We also show that the steady-state utility of a … resource good importing country may be reduced by trade, even if it specializes in production of a non-resource good which we …