Comparative Advantage, Trade, and Payments in a Ricardian Model with a Continuum of Goods

摘要: This paper discusses Ricardian trade and payments theory in the case of a continuum goods. The analysis thus extends development many-commodity, two-country comparative advantage as presented, for example, Gottfried Haberler (1937), Frank Graham (1923), Paul Samuelson (1964), W. Taussig (1927). literature is historically reviewed by John Chipman (1965). Perhaps surprisingly, assumption simplifies neatly comparison with discrete many-commodity case. distinguishing feature approach emphasized this determination competitive margin production between imported exported advances existing formally showing precisely how tariffs transport costs establish range commodities that are not traded, price-specie flow mechanism does or give rise to movements relative cost price levels. formal real model introduced Section 1. Its equilibrium determines wage structure efficient international specialization pattern. II considers standard static questions growth, demand shifts,