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  3. International Trade, Welfare, and the Theory of General Equilibrium
  • Cited by 4
  • Edited by Sugata Marjit, Centre for Studies in Social Sciences, Calcutta, Saibal Kar, Centre for Studies in Social Sciences, Calcutta
Publisher:
Cambridge University Press
Online publication date:
November 2018
Print publication year:
2018
Online ISBN:
9781108563932
DOI:
https://doi.org/10.1017/9781108563932
Subjects:
Economics, Microeconomics, International Economics
Information

Book description

This essential volume reflects the continuing and enduring utility of general equilibrium as a framework of analyses. It attempts to reiterate that understanding broad and holistic consequence of economic events and policies go beyond partial equilibrium perspective. Cutting across areas of research, general equilibrium perspectives in terms of small-scale GE models following the theory and perspectives of Ronald Jones can help readers develop informed judgement regarding critical policies. These include but are not limited to several areas of specific interest - the interaction of financial factors with international trade and implications for the 'real sectors' of the economy, the impact of labour market reforms on the unorganised sectors in developing and transition countries, the non-uniform effects of inflation and deflation on internal and external factor flows, and the sought-after relation between foreign investment and skill accumulation.

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