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Stability of international trade equilibrium with import adjustment

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Summary

This paper shows that the introduction of import adjustment in Marshall's purely export-adjusting system changes the stability conditions considerably. For rising offercurves the pure import-adjusting case is unstable if the export-adjusting process is stable.

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References

  • Amano, A. (1968); “Stability conditions in the pure theory of international trade: a rehabilitation of the Marshallian approach,”Quarterly Journal of Economics, 82, pp. 326–339.

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Authors and Affiliations

  1. Erasmus University Rotterdam, The Netherlands

    C. A. van Bochove

Authors
  1. C. A. van Bochove
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I am indebted to A.S.W. de Vries for helpful comments.

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van Bochove, C.A. Stability of international trade equilibrium with import adjustment. De Economist 129, 262–265 (1981). https://doi.org/10.1007/BF01705812

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  • DOI: https://doi.org/10.1007/BF01705812

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