Dinopoulos, Elias; Unel, Bulent - In: Journal of Economic Dynamics and Control 37 (2013) 1, pp. 68-83
producing lower-quality (lower-price) products serve the domestic market. Trade liberalization raises the average domestic … markup and increases the number of products consumed in each country. However, the impact of trade liberalization on the …-faire equilibrium suboptimal, trade liberalization increases national and global welfare. …