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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 | |