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Trade Gains in Chaotic Equilibrium

A1.379 WP 77

Posted: 4 Mar 1998

See all articles by Murray C. Kemp

Murray C. Kemp

Macquarie University - College of Commerce; UNSW Australia Business School, School of Economics; Chukyo University

Koji Shimomura

Kobe University - Research Institute for Economic and Business Administration

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

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

Murray C. C. Kemp

Macquarie University - College of Commerce ( email )

Sydney, New South Wales
Australia

UNSW Australia Business School, School of Economics ( email )

High Street
Sydney, NSW 2052
Australia
+61 2 9385 3325 (Ext. 3325) (Phone)
+61 2 9313 6337 (Fax)

Chukyo University

101-2 Yagoto Honmachi
Showa-ku Institute of Economics
Nagoya-shi, Aichi-ken

Koji Shimomura (Contact Author)

Kobe University - Research Institute for Economic and Business Administration ( email )

2-1, Rokkodai-cho, Nada-ku
Kobe, 657-8501
Japan
+81 78 881 1212 (Phone)
+81 78 861 6434 (Fax)

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