KEMP, MURRAY C.; TRAN-NAM, BINH - In: Global Journal of Economics (GJE) 01 (2012) 01, pp. 1250008-1
It is well known that if the autarkic and free-trade equilibria are perfectly competitive with market distortions limited to non-negative taxes on imports and exports then free trade is potentially (after country-specific lumpsum compensatory transfers) beneficial for each trading country. It...