国际经济学第五章PPT.ppt

Chapter 5 The Standard Trade Model Chapter Organization Introduction A Standard Model of a Trading Economy International Transfers of Income: Shifting the RD Curve Tariffs and Export Subsidies: Simultaneous Shifts in RS and RD Summary Appendix: Representing International Equilibrium with Offer Curves Introduction Previous trade theories have emphasized specific sources of comparative advantage which give rise to international trade: Differences in labor productivity (Ricardian model) Differences in resources (specific factors model and Heckscher-Ohlin model) Those models share s number of features: The productive capacity of an economy can be summarized by its production possibility frontier Production possibilities determine a country’s relative supply schedule World equilibrium is determined by world relative demand and a world relative supply schedule that lies between the national relative supply schedules. The standard trade model is a general model of trade that admits these models as special cases. A Standard Model of a Trading Economy The standard trade model is built on four key relationships: Production possibility frontier and the relative supply curve Relative prices and relative demand World relative supply and world relative demand Terms of trade and national welfare A Standard Model of a Trading Economy Production Possibilities and Relative Supply Assumptions of the model: Each country produces two goods, food (F) and cloth (C) Each country’s production possibility frontier is a smooth curve (TT) The point on its production possibility frontier at which an economy actually produces depends on the price of cloth relative to food, PC/PF. Isovalue lines Lines along which the market value of output is constant A Standard Model of a Trading Economy A Standard Model of a Trading Economy Relative Prices and Demand The value of an economys consumption equals the value of its production: PCQC + PFQF = PCDC + PFDF = V The economy’s choice of a point