克鲁格曼《国际经济学》第八版课后答案(英文)-Ch05

Chapter5TheStandardTradeModelChapterOrganizationAStandardModelofaTradingEconomyProductionPossibilitiesandRelativeSupplyRelativePricesandDemandTheWelfareEffectofChangesintheTermsofTradeDeterminingRelativePricesEconomicGrowth:AShiftoftheRSCurveGrowthandtheProductionPossibilityFrontierRelativeSupplyandtheTermsofTradeInternationalEffectsofGrowthCaseStudy:HastheGrowthofNewlyIndustrializingCountriesHurtAdvancedNations?InternationalTransfersofIncome:ShiftingtheRDCurveTheTransferProblemEffectsofaTransferontheTermsofTradePresumptionsabouttheTermsofTradeEffectsofTransfersCaseStudy:TheTransferProblemandtheAsianCrisisTariffsandExportSubsidies:SimultaneousShiftsinRSandRDRelativeDemandandSupplyEffectsofaTariffEffectsofanExportSubsidyImplicationsofTermsofTradeEffects:WhoGainsandWhoLoses?SummaryAppendix:RepresentingInternationalEquilibriumwithOfferCurvesDerivingaCountry’sOfferCurveInternationalEquilibriumChapter5TheStandardTradeModel17ChapterOverviewPreviouschaptershavehighlightedspecificsourcesofcomparativeadvantagewhichgiverisetointernationaltrade.Thischapterpresentsageneralmodelwhichadmitspreviousmodelsasspecialcases.This“standardtrademodel”istheworkhorseofinternationaltradetheoryandcanbeusedtoaddressawiderangeofissues.Someoftheseissues,suchasthewelfareanddistributionaleffectsofeconomicgrowth,transfersbetweennations,andtariffsandsubsidiesontradedgoodsareconsideredinthischapter.Thestandardtrademodelisbaseduponfourrelationships.First,aneconomywillproduceatthepointwheretheproductionpossibilitiescurveistangenttotherelativepriceline(calledtheisovalueline).Second,indifferencecurvesdescribethetastesofaneconomy,andtheconsumptionpointforthateconomyisfoundatthetangencyofthebudgetlineandthehighestindifferencecurve.Thesetworelationshipsyieldthefamiliargeneralequilibriumtradediagramforasmalleconomy(onewhichtakesasgiventhetermsoftrade),wheretheconsumptionpointandproductionpointarethetangenciesoftheisovaluelinewiththehighestindifferencecurveandtheproductionpossibilitiesfrontier,respectively.Youmaywanttoworkwiththisstandarddiagramtodemonstrateanumberofbasicpoints.First,anautarkiceconomymustproducewhatitconsumes,whichdeterminestheequilibriumpriceratio;andsecond,openinganeconomytotradeshiftsthepriceratiolineandunambiguouslyincreaseswelfare.Third,animprovementinthetermsoftradeincreaseswelfareintheeconomy.Fourth,itisstraightforwardtomovefromasmallcountryanalysistoatwocountryanalysisbyintroducingastructureofworldrelativedemandandsupplycurveswhichdeterminerelativeprices.TheserelationshipscanbeusedinconjunctionwiththeRybczynskiandtheStolper-SamuelsonTheoremsfromthepreviouschaptertoaddressarangeofissues.Forexample,youcanconsiderwhetherthedramaticeconomicgrowthofcountrieslikeJapanandKoreahashelpedorhurttheUnitedStatesasawhole,andalsoidentifytheclassesofindividualswithintheUnitedStateswhohavebeenhurtbytheparticulargrowthbiasesofthesecountries.Inteachingthesepoints,itmightbeinterestingandusefultorelatethemtocurrentevents.Forexample,youcanleadaclassdiscussionoftheimplicationsfortheUnitedStatesoftheprovisionofformsoftechnicalandeconomicassistancetotheemergingeconomiesaroundtheworldorthewaysinwhichaworldrecessioncanleadtoafallindemandforU.S.exportgoods.TheexampleprovidedinthetextconsidersthepopularargumentsinthemediathatgrowthinJapanorKoreahurtstheUnitedStates.Theanalysispresentedinthischapterdemonstratesthatthebiasofgrowthisimportantindeterminingwelfareeffectsratherthanthecountryinwhichgrowthoccurs.Theexistenceofbiasedgrowth,andthepossibilityofimmiserizinggrowthisdiscussed.TheRelativeSupply(RS)andRelativeDemand(RD)curvesillustratetheeffectofbiasedgrowthonthetermsoftrade.Thenewtermsoftradelinecanbeusedwiththegeneralequilibriumanalysistofindthewelfareeffectsofgrowth.Ageneralprinciplewhichemergesisthatacountrywhichexperiencesexport-biasedgrowthwillhaveadeteriorationinitstermsoftrade,whileacountrywhichexperiencesimport-biasedgrowthhasanimprovementinitstermsoftrade.AcasestudypointsoutthatgrowthintherestoftheworldhasmadeothercountriesmoreliketheUnitedStates.Thisimport-biasedgrowthhasworsenedthetermsoftradefortheUnitedStates.Thesecondissueaddressedinthecontextofthestandardtrademodelistheeffectofinternationaltransfers.Thesalientpointhereisthedirection,ifany,inwhichtherelativedemandcurveshiftsinresponsetotheredistributionofincomefromatransfer.Atransferworsensthedonor’stermsoftradeifithasahighermarginalpropensitytoconsumeitsexportgoodthantherecipient.Thepresenceofnon-tradedgoodstendstoreinforcethedeteriorationoftermsoftradeforthedonorcountry.ThecasestudyattendanttothisissueinvolvesthedeteriorationofmanyAsiancountries’termsoftradeduetothelargecapitalwithdrawalsattheendofthe1990s.18Krugman/Obstfeld•InternationalEconomics:TheoryandPolicy,EighthEditionThethirdareatowhichthestandardtrademodelisappliedaretheeffectsoftariffsandexportsubsidiesonwelfareandtermsoftrade.Theanalysisproceedsbyrecognizingthattariffsorsubsidiesshiftboththerelativesupplyandrelativedemandcurves.Atariffonimportsimprovesthetermsoftrade,expressedinexternalprices,whileasubsidyonexportsworsenst