Trade Gains in Chaotic Equilibrium

In the present note we construct an overlapping-generations (OLG) example in which free trade is Pareto-improving and the world equilibrium chaotic. The example is simple, but it is not incompatible with the general model of Kemp and Wolik.

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Year of publication:	1997-04
Authors:	Kemp, Murray C. ; Shimomura, Koji
Institutions:	Research Institute for Economics and Business Administration, Kobe University
Subject:	International trade \| Economic theory

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Series:	Discussion Paper Series. - ISSN 1345-2207.
Type of publication:	Book / Working Paper
Notes:	Number 77 12 pages
Classification:	F10 - Trade. General ; F14 - Country and Industry Studies of Trade
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005650732