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Indeterminacy in the free-trade world.
- Source :
-
Journal of Difference Equations & Applications . Feb/Mar2007, Vol. 13 Issue 2/3, p135-149. 15p. 2 Diagrams. - Publication Year :
- 2007
-
Abstract
- We show that indeterminacy arises in a discrete-time competitive two-country dynamic model of international trade in which externalities, imperfect competition, public goods, and government intervention are assumed away. The present model is a standard dynamic trade model in the sense that there is neither an international credit market nor international factor mobility, and these intrinsic features are a source of indeterminacy. Indeterminacy is implied by the condition for the existence of a steady state. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 10236198
- Volume :
- 13
- Issue :
- 2/3
- Database :
- Academic Search Index
- Journal :
- Journal of Difference Equations & Applications
- Publication Type :
- Academic Journal
- Accession number :
- 24280737
- Full Text :
- https://doi.org/10.1080/10236190601069044