International Trade, Welfare, and the Theory of General Equilibrium

Sugata Marjit is Reserve Bank of India Professor of Industrial Economics at the Centre for Studies in Social Sciences, Calcutta. His research interests are International Economics, Economic Development, Governance, Banking and Finance, and Rational Choice Models of Political Economy. He is the editor of the South Asian Journal of Macroeconomics and Public Finance. Saibal Kar is Professor of Economics at the Centre for Studies in Social Sciences, Calcutta (CSSSC), India and a Research Fellow of the Institute of Labor Economics (IZA) Bonn. He is the Managing Editor, South Asian Journal of Macroeconomics and Public Finance (Sage) and the Director of the Eastern Regional Centre of ICSSR.

• Introduction; Part I. Lessons from Simple General Equilibrium Models: 1. Thoughts and remarks after 50 years of simple general equilibrium models Ronald W. Jones; Part II. Adjustment Towards Free Trade: 2. Adjustment costs and trade liberalization Eric W. Bond; 3. Farsightedly stable FTA structures – the roles of pre-existing tariff rates Noritsugu Nakanishi; Part III. Skill Formation and Inequality: 4. Skilled-unskilled wage inequality and dynamic accumulation: a theoretical analysis skill Priya Brata Dutta; 5. FDI in education vs FDI in commodity production: a theoretical model Rashmi Ahuja; Part IV. Implications of Factor Flows: 6. Skilled migration and foreign aid in a general equilibrium model of monopolistic competition Dambar Uprety and Sajal Lahiri; 7. Trade, factor flows and product variety in a small open economy Anwesha Aditya; 8. Product differentiation, quality of innovation and capital mobility: a general equilibrium analysis Sudeshna Mitra, Tonmoy Chatterjee and Kausik Gupta; Part V. Production Organization in Open Economies: 9. Cross-border mergers and international trade: a vertical GOLE model Hamid Beladi, Avik Chakrabarti and Sugata Marjit; 10. International trade and production organization: a review of contemporary literature Meghna Dutta; Part VI. Issues in Taxation: 11. Negative production externalities, labour market imperfection and production tax policy in a developing economy Sarbajit Chaudhuri; 12. Tax-financed public transfers: a mechanism for double taxation Baisakhi Marjit, Sugata Marjit and Saibal Kar.