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QUINTUPLE GAINS FROM INTERNATIONAL TRADE
A Model in the Closed Economy
Quintuple Gains from International Trade
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addition American auto industry American auto workers analysis assumptions autarky auto producers auto wage automobiles available to consumers capital labor ratio decrease demand for labor derived demand dissertation distorted sector domestic models economywide effects of trade elasticity of derived employment endogenous variables equation equilibrium conditions estimated examined explained firm fixed cost framework free trade gains from trade imperfect competition increasing returns international trade intraindustry trade Japan Japan-U.S. automotive trade Japanese auto industry Japanese automotive industry Japanese imports labor demand labor market imperfections Lerner Index long run model developed monopolistic competition Note number of types numeraire orthodox trade theories output perfectly competitive price markup product differentiation profit relative factor endowments returns to scale rigorously shown structural unemployment stylized facts substitutability Table technology and labor trade barriers trade liberalization trade restrictions trade under imperfect transport equipment U.S. counterpart U.S. market union United various voluntary export restraints wage markup wage rate