International Trade 5th edition by Robert Feenstra, Alan Taylor – Ebook PDF Instant Download/Delivery: 1319344108, 9781319344108
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ISBN 10: 1319344108
ISBN 13: 9781319344108
Author: Robert Feenstra, Alan Taylor
Available for the first time with Macmillan’s new online learning tool, Achieve, the 5th edition of Feenstra and Taylor’s International Economics provides you with engaging, balanced coverage and applications of key concepts (including President Trump’s recent tariffs on China).
International Trade 5th Table of contents:
Chapter 1: Trade in the Global Economy
1 International Trade
The Basics of World Trade
Application: Is Trade Today Different from the Past?
Map of World Trade
Trade Compared with GDP
Barriers to Trade
“First Golden Age” of Trade
Political Economy of Tariffs
“Second Golden Age” of Trade
The U.S.–China Trade War
2 Migration and Foreign Direct Investment
Map of Migration
Political Economy of Migration
Map of Foreign Direct Investment
Application: An American Factory
Headlines: Don’t Think That All Chinese Factories Are like the One in American Factory
3 Conclusions
End of Chapter
Key Points
Key Terms
Problems
Chapter 2: Trade and Technology: The Ricardian Model
1 Reasons for Trade
Proximity
Resources
Absolute Advantage
Comparative Advantage
2 Ricardian Model of Trade
The Home Country
The Foreign Country
Application: Comparative Advantage in Apparel, Textiles, and Wheat
3 Determining the Pattern of International Trade
International Trade Equilibrium
Application: Labor Productivity and Wages
4 Solving for International Prices
Home Export Supply Curve
International Trade Equilibrium
Application: The Terms of Trade for Primary Commodities
5 Conclusions
End of Chapter
Key Points
Key Terms
Problems
Chapter 3: Gains and Losses from Trade in the Specific-Factors Model
1 Specific-Factors Model
The Home Country
The Foreign Country
Overall Gains from Trade
Application: How Large Are the Gains from Trade?
2 Earnings of Labor
Determination of Wages
Change in Relative Price of Manufactures
Application: Manufacturing and Services in the United States: Employment and Wages Across Sectors
Application: The “China Shock” and Employment in the United States
3 Earnings of Capital and Land
Determining the Payments to Capital and Land
Numerical Example
What It All Means
Application: Can Losses to Factors of Production Be Offset?
Headlines: Rise in Coffee Prices—Great for Farmers, Tough on Co-ops
4 Conclusions
End of Chapter
Key Points
Key Terms
Problems
Chapter 4: Trade and Resources: The Heckscher–Ohlin Model
1 Heckscher–Ohlin Model
Assumptions of the Heckscher–Ohlin Model
Application: Are Factor Intensities the Same Across Countries?
No-Trade Equilibrium
Free-Trade Equilibrium
2 Testing the Heckscher–Ohlin Model
Leontief’s Paradox
Factor Endowments in 2017
Evolution of Factor Endowments in China and the United States
Leontief’s Paradox Once Again
3 Effects of Trade on Factor Prices
Effect of Trade on the Wage and Rental of Home
Determination of the Real Wage and Real Rental
Changes in the Real Wage and Rental: A Numerical Example
4 Conclusions
End of Chapter
Key Points
Key Terms
Problems
Chapter 5: Movement of Labor and Capital Between Countries
1 Movement of Labor Between Countries: Migration
Effects of Immigration in the Short Run: Specific-Factors Model
Application: Immigration to the New World
Other Effects of Immigration in the Short Run
Application: The Political Economy of Migration
Effects of Immigration in the Long Run
Rybczynski Theorem
Factor Price Insensitivity Theorem
Application: The Effects of the Mariel Boat Lift on Industry Output in Miami
Application: The Effects of Migration on Wages
2 Movement of Capital Between Countries: Foreign Direct Investment
Greenfield Investment
FDI in the Short Run: Specific-Factors Model
FDI in the Long Run
Application: The Effect of FDI on Rentals and Wages in Singapore
Headlines: The Myth of Asia’s Miracle
3 Gains from Labor and Capital Flows
Gains from Immigration
Application: Immigrants and Their Remittances
Application: Measuring the Gains from Immigration
Gains from Foreign Direct Investment
Application: Measuring the Gains from Foreign Direct Investment
4 Conclusions
End of Chapter
Key Points
Key Terms
Problems
Chapter 6: Increasing Returns to Scale and Monopolistic Competition
1 Basics of Imperfect Competition
Monopoly Equilibrium
Demand with Duopoly
2 Trade Under Monopolistic Competition
Equilibrium Without Trade
Equilibrium with Free Trade
3 Free-Trade Agreements Within North America
Gains and Adjustment Costs for Canada Under CUSFTA
Gains and Adjustment Costs for Mexico Under NAFTA
Gains and Adjustment Costs for the United States Under NAFTA
Renegotiation of NAFTA
Headlines: North American Trade Pact Could Cushion U.S. Economy
4 Intra-Industry Trade and the Gravity Equation
Index of Intra-Industry Trade
The Gravity Equation
Application: The Gravity Equation for Canada and the United States
5 Conclusions
End of Chapter
Key Points
Key Terms
Problems
Chapter 7: Offshoring of Goods and Services
1 A Model of Offshoring
Value Chain of Activities
Slicing the Value Chain
Changes in Foreign Costs and in Offshoring
2 Explaining Changes in Wages and Employment
Changes in the Relative Wage of Nonproduction Workers in the United States
Changes in the Relative Wage of Nonproduction Workers in Mexico
Job Polarization in the United States
3 The Gains from Offshoring
Simplified Offshoring Model
Production in the Absence of Offshoring
Terms of Trade
Application: U.S. Terms of Trade and Service Exports
4 The Future of Offshoring and You
Headlines: American Factories Demand White-Collar Education for Blue-Collar Work
5 Conclusions
End of Chapter
Key Points
Key Terms
Problems
Chapter 8: Import Tariffs and Quotas Under Perfect Competition
1 A Brief History of the World Trade Organization
2 The Gains from Trade
Consumer and Producer Surplus
Home Welfare
Home Import Demand Curve
3 Import Tariffs for a Small Country
Free Trade for a Small Country
Effect of the Tariff
Application: U.S. Tariffs on Steel, 2002–03
Application: U.S. and Foreign Tariffs Under President Trump, 2018–19
Application: The Political Economy of Tariffs
4 Import Tariffs for a Large Country
Foreign Export Supply
Effect of the Tariff
Application: U.S. Tariffs on Steel Once Again
Application: U.S. and Foreign Tariffs Under President Trump Once Again
5 Import Quotas
Import Quota in a Small Country
Application: China and the Multifibre Arrangement
6 Conclusions
End of Chapter
Key Points
Key Terms
Problems
Chapter 9: Import Tariffs and Quotas Under Imperfect Competition
1 Tariffs and Quotas with Home Monopoly
No-Trade Equilibrium
Free-Trade Equilibrium
Effect of a Home Tariff
Effect of a Home Quota
Application: U.S. Imports of Japanese Automobiles
2 Tariffs with Foreign Monopoly
Foreign Monopoly
Application: Import Tariffs on Japanese Trucks
Headlines: The Chickens Have Come Home to Roost
3 Dumping
Numerical Example of Dumping
Policy Response to Dumping
Antidumping Duties
Application: United States and European Duties on Solar Panels from China
4 Infant Industry Protection
Free-Trade Equilibrium
Tariff Equilibrium
Application: Examples of Infant Industry Protection
5 Conclusions
End of Chapter
Key Points
Key Terms
Problems
Chapter 10: Export Policies in Resource-Based and High-Technology Industries
1 WTO Goals on Agricultural Subsidies
Agricultural Export Subsidies
Other Matters from the Hong Kong WTO Meeting
2 Export Subsidies in a Small Home Country
Impact of an Export Subsidy
3 Export Subsidies in a Large Home Country
Effect of the Subsidy
Application: Who Gains and Who Loses?
4 Production Subsidies
Effect of a Production Subsidy in a Small Home Country
Effect of the Production Subsidy in a Large Home Country
Application: The Political Economy of U.S. Agricultural Subsidies, 2018–19
Headlines: Trump’s $16 Billion Farm Bailout Criticized at WTO
5 Export Tariffs
Impact of an Export Tariff in a Small Country
Impact of an Export Tariff in a Large Country
6 Export Quotas
Application: Chinese Export Policies in Mineral Products
Headlines: China Ends Rare-Earth Minerals Export Quotas
7 High-Technology Export Subsidies
“Strategic” Use of High-Tech Export Subsidies
Effect of a Subsidy to Airbus
Subsidy with Cost Advantage for Boeing
Headlines: U.S. to Impose Tariffs on EU Goods After WTO’s Airbus Ruling
8 Conclusions
End of Chapter
Key Points
Key Terms
Problems
Chapter 11: International Agreements on Trade and the Environment
1 Multilateral Trade Agreements
The Logic of Multilateral Trade Agreements
Prisoner’s Dilemma
Headlines: The World Trade Organization Is Faltering. The US Can’t Fix It Alone.
The End of the Trade War?
2 Regional Trade Agreements
Characteristics of Regional Trade Agreements
Application: Brexit and Rules of Origin
Trade Creation and Trade Diversion
Numerical Example of Trade Creation and Diversion
Trade Diversion in a Graph
Application: Trade Creation and Diversion for Canada
3 International Agreements on the Environment
Environmental Issues in the GATT and WTO
Does Trade Help or Harm the Environment?
International Agreements on Pollution
Application: The Kyoto Protocol, the Paris Agreement, and the Green Deal
Headlines: California Law Aims to Tackle Imported Emissions
4 Conclusions
End of Chapter
Key Points
Key Terms
Problems
Index
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Tags: Robert Feenstra, Alan Taylor, International Trade