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resource use and welfare. Autarky is likely to Pareto-dominate free trade in the long run when the environment is quite fragile … under autarky. Alternatively, trade may enable the environmentally richer country to "pull up" its partner; in this case … both countries preserve their stocks when these would be degraded under autarky. These results rationalize the positions of …
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resource use and welfare. Autarky is likely to Pareto-dominate free trade in the long run when the environment is quite fragile … under autarky. Alternatively, trade may enable the environmentally richer country to "pull up" its partner; in this case … both countries preserve their stocks when these would be degraded under autarky. These results rationalize the positions of …
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