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