Direct and Indirect Trade Utility Functions.
In this article the concept of an indirect trade utility function is introduced, its properties are developed, and its application to the theory of international trade and to the econometric estimation of export supply and import demand functions are discussed. The indirect trade utility function ex...
| Publicado en: | Review of Economic Studies Vol. 47; no. 5; pp. 907 - 927 |
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| Formato: | Artículo |
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Oxford University Press / USA
Oct80
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=4622129&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 4622129 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00346527 REM jtl: Review of Economic Studies issn: 00346527 maglogo: N pubinfo: dt: Oct80 vid: 47 iid: 5 pid: 622 pub: Oxford University Press / USA artinfo: ui: 4622129 10.2307/2296921 ppf: 907 ppct: 20 formats: tig: atl: Direct and Indirect Trade Utility Functions. aug: au: Woodland, A. D. affil: University of British Columbia. su: International trade Utility functions Microeconomics Production possibility curve Econometric models Economic demand Demand for money Economics Market potential Commercial policy sug: subj: International trade Utility functions Microeconomics Production possibility curve Econometric models Economic demand Demand for money Economics Market potential Commercial policy ab: In this article the concept of an indirect trade utility function is introduced, its properties are developed, and its application to the theory of international trade and to the econometric estimation of export supply and import demand functions are discussed. The indirect trade utility function expresses the maximum level of utility a trading nation can attain, assuming the existence of a direct community utility function, as a function of a vector of prices for commodities, a vector of factor endowments and the balance of trade. As such it provides a summary of all the consumption and production decisions within a competitive economy. While the discussion is focused on a national economy trading with other nations in the world market, it should be clear that the model applies equally well to the individual consumer who undertakes marketable production. Examples include the self-employed businessman or farmer. The indirect trade utility function then indicates the maximum utility attainable given the prices of the commodities marketable products and purchasable inputs in the market, the endowments of fixed factors such as land and the net value payments. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y dt: @attributes: year: 1980 holdings: @attributes: islocal: N |
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