Trade Gains in Chaotic Equilibrium
A1.379 WP 77
Posted: 4 Mar 1998
Date Written: 1997
Abstract
In the present note we construct an overlapping-generations (OLG) example in which free trade is Pareto-improving and the world equilibrium chaotic. The example is simple, but it is not incompatible with the general model of Kemp and Wolik.
JEL Classification: F10; F14
Suggested Citation: Suggested Citation
Kemp, Murray C. C. and Shimomura, Koji, Trade Gains in Chaotic Equilibrium (1997). A1.379 WP 77, Available at SSRN: https://ssrn.com/abstract=56199
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