This book reconstructs Keynesian macroeconomics so that it is compatible with the neoclassical dynamic microeconomic theory. This theory adopts three postulates: rational expectations, perfect price flexibility, and exclusion of the money in utility function (MIU). Based on the new theoretical...

This volume addresses profound issues in international economics, with contributions from leading researchers on the implications of trade. Empirical studies address preferential trading arrangements, global imbalances and exchange rates, facilitating an understanding of how the economy...

In a previous book The Theory of Value, Capital and Interest , the systemic theory of value was developed for a closed economy. Now the economy is opened and the same theory is applied to international trade. Both books are intended to provide an alternative theoretical paradigm

This book outlines the process of China's trade reforms over the past two decades and assesses the impact of these reforms on the economy. The author provides a detailed quantitative analysis to trace China's evolving commodity pattern of trade and changing comparative advantage structure over...

Endogene Sunk Costs und die Kostenstruktur -- Endogene Sunk Costs in einem „Love of Variety“ Modell -- Endogene Sunk Costs in einem „Ideal Variety“ Modell -- Anwendungen der Modelle mit endogenen Sunk Costs -- Schlussbemerkungen.

The development of international trade theory has created a wide array of different theories, concepts and results. Economic students are trained to understand international interactions by severally incompatible theories one by one in the same course. In order to overcome incoherence among...

World trade is not only an economic but also a social, political, environmental, labor and legal matter. Economists and government planners aim at finding the efficient trade policy which enhances economic welfare and growth in a more harmonious and sustainable way.This book contains 12 articles...

Menschen und Märkte (Mikroökonomie) -- Die unsichtbare Hand des Marktes -- Wettbewerb in Theorie und Praxis -- Preise, Kosten und Gewinne -- Nutzen und wahrer Wert der Güter -- Wenn der Markt versagt -- Der gerechte Lohn und das Recht auf Arbeit -- Das Mysterium von Kapital und Zinsen --...

This book presents a theoretical investigation of the formation of regional free trade agreements (FTAs), the behavior of global enterprises, and government trade policies in various game forms including multi-stage games, repeated games, and timing games. In the last few decades, the number of...

This book is for people who want to understand modern trade theory, particularly the Melitz model. It lays out Melitz theory from first principles and relates it to earlier theories of Armington and Krugman. For trade theory specialists, the book produces some significant conclusions. It...