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| Author: | Bond, E. Syropoulos, C. |
| Title: | The size of trading blocs: market power and world welfare effects |
| Journal: | Journal of International Economics
1996 : MAY, VOL. 40:3/4, p. 411-438 |
| Index terms: | ECONOMICS INTERNATIONAL WELFARE |
| Language: | eng |
| Abstract: | The authors construct an n-country n-commodity trade model to analyze the implications of bloc size for (Nash) equilibrium tariffs and welfare. The relationship between the absolute size of (symmetric) trading blocs and their market power is ambiguous, and the authors illustrate how this relationship varies with model parameters. In contrast, sufficiently large increases in the relative size of a bloc enhance its relative market power and cause the welfare of its country members to rise above the free trade level. |
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