When can a country be said to benefit from free trade?This question has obsessed economists for more than 200 years, and a definitive answer has never been provided. Continuing the influential work begun in The Gains from Trade and the Gains from Aid, (Routledge 1995), Murray Kemp here presents...

Much of the comparative statics of trade theory rests on the unrealistic assumption that in each trading country all households are alike or behave collectively as though they are alike. In the present paper the authors show that two well-known comparative statical propositions are highly...

In an earlier paper the authors clarified the relationship between the stability of long-run equilibrium and the possibility of paradoxical comparative statics in the Lerner-Samuelson two-by-two model of production with factor-market distortions (see Review of International Economics 9...