We develop an asymmetric general oligopolistic equilibrium (AGOLE) model, which extends the range of possible applications in general oligopolistic equilibrium modelling. The AGOLE allows to incorporate endogenous and asymmetric marginal utilities of income across countries.As a first exemplary...

As in Roemer (1982, chapter 1), this paper considers a simple international trade model and examines the existence and characterization of free trade equilibria involving the unequal exchange of labor (UE). The paper provides an almost complete characterization of the domain of economies in...

We consider trade liberalization in a multilateral trade model, where countries have identical homothetic tastes but may have different constant returns to scale technologies that produce at least two goods from at least two factors. In this model, we derive the world prices after trade...

The world economy has become more open and integrated in recent years. Countries are more engaged in international trade and the importance of tradables relative to non-tradables in national output is rising everywhere. Capital flows more freely among countries and workers cross borders more...

The issue of the impact of trade on specialisation structures and the effects of trade liberalisation on employment and labour markets has been intensively discussed in the recent literature on trade liberalisation and globalisation. In Europe this debate has gained new momentum in the...

This paper presents a trade model to study resource-allocation advantage in a two-factor framework. Nations which have resource-allocation advantage obtain additional gains from trade compared to the circumstances when such advantage is absent. Trade equilibrium is established

This paper develops a new international trade model with capital market imperfections and endogenous borrowing costs in general equilibrium. A key element of our model is that firm heterogeneity arises from the interaction of credit constraints at the firm-level with financial frictions at the...