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Trade and Welfare in General Equilibrium : A Discrete-time Infinite Horizon Case

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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)
Appears in Collections:Discussion paper > Series A

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