International Trade

ISBN-10: 0470408790
ISBN-13: 9780470408797
Edition: 2013
Authors: John McLaren
List price: $209.99 Buy it from $96.76
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Description: McLaren's Economics of International Trade reviews economic models and present theories to explain the benefits and goals of trade between countries, generally assume a minimum exposure to Principles of Microeconomics. It is rigorous and unique in  More...

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Book details

List price: $209.99
Copyright year: 2013
Publisher: John Wiley & Sons, Incorporated
Publication date: 10/8/2012
Binding: Paperback
Pages: 352
Size: 7.25" wide x 10.25" long x 0.50" tall
Weight: 1.364
Language: English

McLaren's Economics of International Trade reviews economic models and present theories to explain the benefits and goals of trade between countries, generally assume a minimum exposure to Principles of Microeconomics. It is rigorous and unique in its presentation of stories about countries in today’s world first. Following the real-world stories, the text also offers standard theoretical constructs and economic models.

John McLaren is a professor emeritus in the Faculty of Law at the University of Victoria.

About the Author
Preface
Engines of Globalization
A Second Wave of Globalization
The First Wave
The Second Wave
Crisis, Peak Oil, Pirates-and De-Globalization?
The Forces at Work
Should Nigeria Strive for Self-Sufficiency' in Food?
A Presidential Agenda
The Comparative Advantage Argument Formalized: Introducing the Ricardian Model
Autarky in the Ricardian Model
Free Trade in the Ricardian Model
So What Actually Happened?
Additional Insights from Ricardo's Model
Why Do Americans Get Their Impalas from Canada?
Impalas on the Horizon
Increasing Returns More Generally
How to Tackle Europe: Trade versus FDI
On a Smaller Scale: Trade and Increasing Returns in Furniture
Adding Heterogeneity: The Melitz Effect
Trade and Large Corporations: Kodak versus Fuji
Big Players in the Game of Trade
Background on kodak, Fuji, and the War
Introducing Oligopoly
Autarky
Trade
Winners and Losers
Some Other Possibilities
Politics and Policy in the World Economy
Why Did the North Want a Tariff, and Why Did the South Call It an Abomination?
A Cold War before the Hot War
A Pure Specific-Factors Model
The Tariff
A Constitutional Error, and the Lerner Symmetry Theorem
A Mixed Model
Specific Factors in Trade More Generally
Is Free Trade a Rip-off for American Workers?
The Charges
The Model with Fixed Coefficients
Supply, Demand, and Equilibrium
Trade and the Distribution of Income
Allowing Substitutability-and the Telltale Signs
Testing the Theory
The Upshot-with an Important Qualification
Why Doesn't Our Government Want Us to Import Sugar?
Sinking LifeSavers
Hypothesis I: The Terms-of-Trade Motive
A Partial-Equilibrium Model
The Effects of a Tariff
The Effects of a Quota
Evaluation: Is the Terms-of-Trade Motive Sufficient?
Hypothesis II: Interest Groups
Additional Observations
The Optimal Tariff
The Optimal Tariff for a Small Country Is Zero
Voluntary Export Restraints
Equivalence of Tariffs and Quotas (and How It Can Break Down)
Nonoptimality of Export Subsidies
The Argument in General Equilibrium
The Effective Rate of Protection
Who Are the WTO, and What Do They Have Against Dolphins?
The Dolphin Fiasco and Other Stories
The Trade War Problem and the Need for Coordination in Trade Policy
Problem: In an Interconnected World, All Policies Are Trade Policies
The Sham Problem
The WTO's Wobbly Tightrope Walk
Should Developing-Country Governments Use Tariffs to Jump-start Growth?
A Silver Bullet?
The Infant-Industry Argument: Background
Learning by Doing: An Insufficient Argument
Market-Failure Arguments for Infant-Industry Protection
Credit-Market Failures
Learning Spillovers
Agglomeration Externalities and Trade
What Has Actually Happened?
Was Ronald Reagan Punked by Japanese Automakers?
A Paradox of Aggressive Trade Policy
A First Attempt: A Competitive Model
Does a Cournot Interpretation Work?
Trying on a Bertrand Model
A Closer Look: Trade Policy with Cournot Oligopoly
Trade Policy with Bertrand Oligopoly
Current Controversies
Should the iPod, Be Made in the United States?
Made All Over
Offshoring and Inequality: The Feenstra-Hanson Theory
Offshoring and Productivity: An Alternative Model
How Do These Theories Stand Up to the Data?
Another Approach: Evidence from Aggregate Employment
A Bottom Line, Open Questions, and the Obama Critique
Should We Build a Border Fence?
Calls for a Crackdown, and Calls for Compassion
Three Theories, and One Thing They Agree On
Three Key Pieces of Evidence
The Upshot
Trade and the Environment: Is Globalization Green?
A Disaster on a Global Scale?
Two Theories (but One Model)
The Evidence
Sweatshops and Child Labor: Globalization and Human Rights
Globalization and Child Labor
Did a Child Slave Pick the Cocoa for My Chocolate Bar?
Globalization and Child Labor - Some Theory
Evidence and Implications for Policy
Bottom Line on the Child Labor Question
Sweatshops and Multinationals
Sweatshops Arise from Poverty
Multinationals May Be Part of the Solution
But There May Still Be Good Reason to Keep the Pressure On
Globalization and Human Rights More Generally
The Effect on Democracy: The Political Influence of Multinational Firms
The Effect on Democracy: The Effect of Trade
Globalization and Civil War
A Note on Women's Rights
Conclusion: Getting the Globalization You Want
Is NAFTA a Betrayal of the Poor or a Path to Prosperity?
A Competition: Who Hates NAFTA the Most?
Preferential Trade Agreements: Background and Key Principles
Types of Agreement
Article XXIV
The Classic Trade-off: Trade Creation and Trade Diversion
Distributional Concerns
U.S. Workers
The Mexican Poor
The Notorious Chapter 11
Some Issues That Affect PTAs More Broadly
Counting Lost Jobs: A Popular Mismeasurement
National Bargaining-Power Issues
Preferential Agreements and the Multilateral Process
Conclusion
Macroeconomic Aspects of Globalization
Is the Trade Deficit a Time Bomb?
Note a Subtle Change
What Is a Trade Deficit?
Definitions, and why it Hasn't shown Up Before
The National Income Identity
The Current Account and the Financial Account
Bilateral versus Multilateral Deficits
Why Would a Country Run a Trade Deficit?
Can the Trade Deficit Ever Be a Problem?
Trade and Exchange Rates: Is the Renminbi the Culprit?
The Ultimatum
Basic Facts about Foreign-Exchange Markets
A Dynamic, General-Equilibrium Model of Exchange-Rate Determination
The Setup
Equilibrium
Equilibrium Responses
What Happens if the Value of the Renminbi Is Raised?
Anticipated Devaluation
Productivity Effects
Anticipated Productivity Changes
A Fiscal Interpretation
Adding Nominal Rigidity
Index

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