| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7764 |
| DP7764 Hierarchical Trade | |
| Hans Gersbach; Hans Haller | |
| 发表日期 | 2010-03-28 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | We study the allocation of commodities through a two-stage hierarchy of competitive markets. Groups or countries trade at global prices while individuals within a group trade at local prices. We identify the free trade and the autarky equilibrium as polar cases. We show that no other two-stage market equilibria exist if the commodity space is two-dimensional. An example demonstrates that other, so-called intermediate equilibria exist for three dimensional commodity spaces. We give two existence proofs for intermediate equilibria in higher dimensions. Each proof provides an explicit construction of special classes of intermediate equilibria. Finally, we consider the consequences for welfare and trade flows when some countries control the agency that organizes trade at the global level. |
| 主题 | Industrial Organization ; International Trade and Regional Economics |
| 关键词 | Control of trading platforms Hierarchical trade Intermediate equilibria |
| URL | https://cepr.org/publications/dp7764 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536601 |
| 推荐引用方式 GB/T 7714 | Hans Gersbach,Hans Haller. DP7764 Hierarchical Trade. 2010. |
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