This paper first presents a dynamic model that features both real and monetary aspects of international trade and is capable of dealing with both full employment and secular unemployment. The model is then utilized to examine the effect of a tariff on the terms of trade, the trade pattern, real...

In recent years antidumping protection has spread throughout the world. Evidence shows that antidumping often targets R&D-intensive sectors, raising a concern that it may adversely affect worldwide investments in R&D. We investigate this issue in a model of reciprocal dumping extended to a...