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Trade and Welfare in General Equilibrium : A Discrete-time Infinite Horizon Case
| Title: | Trade and Welfare in General Equilibrium : A Discrete-time Infinite Horizon Case |
| Authors: | Kubota, Hajime Browse this author →KAKEN DB |
| Issue Date: | Nov-2019 |
| Publisher: | Faculty of Economics and Business, Hokkaido University |
| Journal Title: | Discussion Paper, Series A |
| Volume: | 343 |
| Start Page: | 1 |
| End Page: | 16 |
| Abstract: | This paper extends the results on trade and welfare obtained in Ohyama(1972)
in the case of a traditional world economy with a finite number of goods to the one of a
world economy over a discrete-time infinite horizon with l1 , the space of all bounded
sequences, as the underlying commodity space. The case with l1 is a typical special
case of economies with infinite number of goods. In this paper, it is shown that the
main results ottained in Ohyama(1972) still hold in the world economy over a discrete-
time infinite horizon by following the method used in Ohyama(1972). It turns out that
Ohyama(1972)'s method is, indeed, very general in a sense that it also applies to more
general cases including economies with infinitely many goods. |
| Type: | bulletin (article) |
| URI: | http://hdl.handle.net/2115/76253 |
| Appears in Collections: | Discussion paper > Series A
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