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Paradoxical trade patterns and terms of trade

Authors
Journal
Economics Letters
0165-1765
Publisher
Elsevier
Publication Date
Volume
18
Issue
1
Identifiers
DOI: 10.1016/0165-1765(85)90080-1

Abstract

Abstract It is shown that, when a monopoly is present in a two-country, two-commodity world, the terms-of-trade do not necessarily fall in between the pre-trade relative prices of the two countries, and that these pre-trade prices do not unequivocally determine the pattern of trade.

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