The tree-farm model of T. Mitra and H. Wan (1985) contains novelties: a continuum of optimal cycles appear for small discounting and the cyclicality survives perturbations. To isolate the source of novelties, the author studies the simplest case: trees live naturally for two periods. This model...

These papers, by a number of leading international-trade theorists, present the first significant theoretical work to be done on a topic of considerable interest, import competition. Nine theoretical papers, on topics ranging from protectionist lobbying to adjustment costs, are synthesized in...

Frontmatter -- Contents -- Preface -- LECTURE I. Confronting Conventional Threats to Free Trade: The Postwar Revolution in the Theory of Commercial Policy -- LECTURE 2 "Fair Trade," Income Distribution, and Social Agendas: Using Trade Theory to Meet New Challenges -- LECTURE 3 Getting to Free...

Main description: Jagdish Bhagwati, one of the world's leading economists, offers a fascinating overview of the perils and promise facing the world trading system. That system is now being subjected to powerful centrifugal forces. Concerns with unfair trade are rampant, managed trade is...