Intl+Trade+2+古典贸易理论.ppt

1、2020/9/14,School of Business Shandong University (WeiHai),1,Classical Trade Theory,梁俊伟山东大学（威海） 商学院,2020/9/14,School of Business Shandong University (Weihai),2,Key Hypothesis of Classical School,Labor is the single production factor Value is only created by Labor Trade is made because of the differen

2、tiation of productivity, say, the technology.,2020/9/14,School of Business Shandong University (Weihai),3,Theorists,Adam Smith 有力地抨击了重商主义的主张，力主自由经济，奠定了自由贸易的理论基础。 提出了绝对优势理论，从供给角度为国际贸易理论的发展指明了方向。 Absolute Cost Absolute Advantage Trade Defects: neglecting the trade btwn some economies that one of them

3、take absolute advantage in all products. David Ricardo Relative Cost Relative Advantage Trade,2020/9/14,School of Business Shandong University (Weihai),4,Ricardo Model,Hypothesis One factor_labor Homogenous in different industry in one nation Freely mobile intranationally, not internationally Consta

4、nt returns to scale Complete competition in both product and factor market No transportation cost and other transaction costs 2X2X1 model Linear Production function (proof required),2020/9/14,School of Business Shandong University (Weihai),5,AA-Model,Qi=fi(L) (i=x,y) X=axLx X=bxLx Lx+Ly=LA Y=ayLy Y=

5、byLy,axbx ayby,2020/9/14,School of Business Shandong University (Weihai),6,RA-Model,ax/aybx/by, by/bxay/ax,2020/9/14,School of Business Shandong University (Weihai),7,Whats good if trade?,2020/9/14,School of Business Shandong University (Weihai),8,X,Y,B,B,A,A,Eb,Ea,Closed Economy,直线型的PPF意味着机会成本固定不变；

6、 斜率分别为-ay/ax和-by/bx; 封闭条件下的相对价格分别为: Pa=PXa/PYa= ay/ax; Pb= PXb/PYb= by/bx,2020/9/14,School of Business Shandong University (Weihai),9,International Eq Price,A,A,P1,P2,C2,C1,Ea,PW=PXw/PYw Pw=P1Pa,Xa,Ya,Xa,0,aXLA-Xa,P=PX/PY,Pa,XC-XP,2020/9/14,School of Business Shandong University (Weihai),10,Xa,0,aXL

7、A-Xa,P=PX/PY,Pa,Surplus Supply Curve of A in X,Surplus Demand Curve of B in X,Pb,Pw,International Eq Price,XC-XP,2020/9/14,School of Business Shandong University (Weihai),11,A,A,Ca,Ea,PW,D,X,X,Y,B,B,Cb,Eb,PW,F,Y,Trade Triangle,2020/9/14,School of Business Shandong University (Weihai),12,Trade Benefi

8、ts: Aggregate Welfare,CIC of both A and B rise to a higher level Resource Distribution Set A as an example Change from Y to X will save 1/aY labor and meanwhile increase X output by (1/aY ) aX. After trade at the world price, A can gain the total Y by (aX/aY)PW(why?) (aX/aY)PW (aX/aY)Pa=1,2020/9/14,

9、School of Business Shandong University (Weihai),13,Real Wages,Closed Economy Complete competition makes the wage equal. normal wage: wa=pXa.aX=pya.ay Real wage: wa/pXa=aX wa/pYa=ay Open Economy normal wage: wa=pXw.aX Real wage: wa/pXw=aX wa/pYw=pXw.aX/pYw=pwaxay (deduction required),2020/9/14,School of Business Shandong University (Weihai),14,Empirical Research,2020/9/14,School of Business Shandong University (Weihai),15,Empirical Research,2020/9/14,School of Business Shandong University (Weihai),16,Empirical Research,2020/9/14,School of Business Shandong University (Weihai),17,Empiric