Maio, Michele Di - Dipartimento di Istituzioni Economiche e Finanziarie, … - 2006
<span style="font-size: 10pt"><span style="font-size: 10pt">This paper presents a specific-factor model showing that, under technological uncertainty and risk averse agents, increasing trade integration is not always welfare increasing. The reason is that changes in the country's specialization level induced by trade integration produce both benefits and...</span></span>