曼昆经济学 Application International TradeWord文件下载.docx
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Considerwhat
determineswhetheracountryimports
orexportsagood
Examinewhowinsandwholosesfrominternationaltrade
Learnthatthegainstowinnersfrom
internationaltradeexceedthelossestolosers
Ifyoucheckthelabelsontheclothesyouarenowwearing,youwillprobablyfindthatsomeofyourclothesweremadeinanothercountry.AcenturyagothetextilesandclothingindustrywasamajorpartoftheU.S.economy,butthatisnolongerthecase.Facedwithforeigncompetitorsthatcouldproducequalitygoodsatlowcost,manyU.S.firmsfounditincreasinglydifficulttoproduceandselltextilesandclothingataprofit.Asaresult,theylaidofftheirworkersandshutdowntheirfac-tories.Today,muchofthetextilesandclothingthatAmericansconsumeareim-portedfromabroad.
Thestoryofthetextilesindustryraisesimportantquestionsforeconomicpol-icy:
Howdoesinternationaltradeaffecteconomicwell-being?
Whogainsandwholosesfromfreetradeamongcountries,andhowdothegainscomparetothelosses?
Analyzethewelfareeffectsoftariffs
andimportquotas
Examinethe
argumentspeopleusetoadvocate
traderestrictions
179
Chapter3introducedthestudyofinternationaltradebyapplyingtheprinci-pleofcomparativeadvantage.Accordingtothisprinciple,allcountriescanbene-fitfromtradingwithoneanotherbecausetradeallowseachcountrytospecializeindoingwhatitdoesbest.ButtheanalysisinChapter3wasincomplete.Itdidnotexplainhowtheinternationalmarketplaceachievesthesegainsfromtradeorhowthegainsaredistributedamongvariouseconomicactors.
Wenowreturntothestudyofinternationaltradeandtakeupthesequestions.Overthepastseveralchapters,wehavedevelopedmanytoolsforanalyzinghowmarketswork:
supply,demand,equilibrium,consumersurplus,producersurplus,andsoon.Withthesetoolswecanlearnmoreabouttheeffectsofinternationaltradeoneconomicwell-being.
THEDETERMINANTSOFTRADE
Considerthemarketforsteel.Thesteelmarketiswellsuitedtoexaminingthegainsandlossesfrominternationaltrade:
Steelismadeinmanycountriesaroundtheworld,andthereismuchworldtradeinsteel.Moreover,thesteelmarketisoneinwhichpolicymakersoftenconsider(andsometimesimplement)traderestric-tionsinordertoprotectdomesticsteelproducersfromforeigncompetitors.Weex-amineherethesteelmarketintheimaginarycountryofIsoland.
THEEQUILIBRIUMWITHOUTTRADE
Asourstorybegins,theIsolandiansteelmarketisisolatedfromtherestoftheworld.Bygovernmentdecree,nooneinIsolandisallowedtoimportorexportsteel,andthepenaltyforviolatingthedecreeissolargethatnoonedarestry.
Becausethereisnointernationaltrade,themarketforsteelinIsolandconsistssolelyofIsolandianbuyersandsellers.AsFigure9-1shows,thedomesticpricead-juststobalancethequantitysuppliedbydomesticsellersandthequantityde-mandedbydomesticbuyers.Thefigureshowstheconsumerandproducersurplusintheequilibriumwithouttrade.Thesumofconsumerandproducersurplusmeasuresthetotalbenefitsthatbuyersandsellersreceivefromthesteelmarket.
Nowsupposethat,inanelectionupset,Isolandelectsanewpresident.Thepresidentcampaignedonaplatformof“change”andpromisedthevotersboldnewideas.HerfirstactistoassembleateamofeconomiststoevaluateIsolandiantradepolicy.Sheasksthemtoreportbackonthreequestions:
◆IfthegovernmentallowedIsolandianstoimportandexportsteel,whatwouldhappentothepriceofsteelandthequantityofsteelsoldinthedomesticsteelmarket?
◆Whowouldgainfromfreetradeinsteelandwhowouldlose,andwouldthegainsexceedthelosses?
◆Shouldatariff(ataxonsteelimports)oranimportquota(alimitonsteelimports)bepartofthenewtradepolicy?
PriceofSteel
Equilibriumprice
Consumersurplus
Producersurplus
Equilibriumquantity
Domesticsupply
Domesticdemand
QuantityofSteel
Figure9-1
THEEQUILIBRIUMWITHOUTINTERNATIONALTRADE.Whenaneconomycannottradeinworldmarkets,thepriceadjuststobalancedomesticsupplyanddemand.ThisfigureshowsconsumerandproducersurplusinanequilibriumwithoutinternationaltradeforthesteelmarketintheimaginarycountryofIsoland.
Afterreviewingsupplyanddemandintheirfavoritetextbook(thisone,ofcourse),theIsolandianeconomicsteambeginsitsanalysis.
THEWORLDPRICEANDCOMPARATIVEADVANTAGE
ThefirstissueoureconomiststakeupiswhetherIsolandislikelytobecomeasteelimporterorasteelexporter.Inotherwords,iffreetradewereallowed,wouldIsolandiansendupbuyingorsellingsteelinworldmarkets?
Toanswerthisquestion,theeconomistscomparethecurrentIsolandianpriceofsteeltothepriceofsteelinothercountries.Wecallthepriceprevailinginworldmarketstheworldprice.Iftheworldpriceofsteelishigherthanthedomesticprice,thenIsolandwouldbecomeanexporterofsteeloncetradeispermitted.Isolandiansteelproducerswouldbeeagertoreceivethehigherpricesavailableabroadandwouldstartsellingtheirsteeltobuyersinothercountries.Conversely,iftheworldpriceofsteelislowerthanthedomesticprice,thenIsolandwouldbe-comeanimporterofsteel.Becauseforeignsellersofferabetterprice,Isolandiansteelconsumerswouldquicklystartbuyingsteelfromothercountries.
Inessence,comparingtheworldpriceandthedomesticpricebeforetradein-dicateswhetherIsolandhasacomparativeadvantageinproducingsteel.Thedo-mesticpricereflectstheopportunitycostofsteel:
IttellsushowmuchanIsolandianmustgiveuptogetoneunitofsteel.Ifthedomesticpriceislow,thecostofproducingsteelinIsolandislow,suggestingthatIsolandhasacomparativeadvantageinproducingsteelrelativetotherestoftheworld.Ifthedomesticpriceishigh,thenthecostofproducingsteelinIsolandishigh,suggestingthatforeigncountrieshaveacomparativeadvantageinproducingsteel.
worldprice
thepriceofagoodthatprevailsintheworldmarketforthatgood
AswesawinChapter3,tradeamongnationsisultimatelybasedoncompar-ativeadvantage.Thatis,tradeisbeneficialbecauseitallowseachnationtospe-cializeindoingwhatitdoesbest.Bycomparingtheworldpriceandthedomesticpricebeforetrade,wecandeterminewhetherIsolandisbetterorworseatpro-ducingsteelthantherestoftheworld.
QUICKQUIZ:
ThecountryAutarkadoesnotallowinternationaltrade.InAutarka,youcanbuyawoolsuitfor3ouncesofgold.Meanwhile,inneighboringcountries,youcanbuythesamesuitfor2ouncesofgold.IfAutarkaweretoallowfreetrade,woulditimportorexportsuits?
THEWINNERSANDLOSERSFROMTRADE
Toanalyzethewelfareeffectsoffreetrade,theIsolandianeconomistsbeginwiththeassumptionthatIsolandisasmalleconomycomparedtotherestoftheworldsothatitsactionshavenegligibleeffectonworldmarkets.Thesmall-economyas-sumptionhasaspecificimplicationforanalyzingthesteelmarket:
IfIsolandisasmalleconomy,thenthechangeinIsoland’stradepolicywillnotaffecttheworldpriceofsteel.TheIsolandiansaresaidtobepricetakersintheworldeconomy.Thatis,theytaketheworldpriceofsteelasgiven.Theycansellsteelatthispriceandbeexportersorbuysteelatthispriceandbeimporters.
Thesmall-economyassumptionisnotnecessarytoanalyzethegainsandlossesfrominternationaltrade.ButtheIsolandianeconomistsknowfromexperi-encethatthisassumptiongreatlysimplifiestheanalysis.Theyalsoknowthatthebasiclessonsdonotchangeinthemorecomplicatedcaseofalargeeconomy.
THEGAINSANDLOSSESOFANEXPORTINGCOUNTRY
Figure9-2showstheIsolandiansteelmarketwhenthedomesticequilibriumpricebeforetradeisbelowtheworldprice.Oncefreetradeisallowed,thedomesticpricerisestoequaltheworldprice.Nosellerofsteelwouldacceptlessthantheworldprice,andnobuyerwouldpaymorethantheworldprice.
Withthedomesticpricenowequaltotheworldprice,thedomesticquantitysupplieddiffersfromthedomesticquantitydemanded.ThesupplycurveshowsthequantityofsteelsuppliedbyIsolandiansellers.ThedemandcurveshowsthequantityofsteeldemandedbyIsolandianbuyers.Becausethedomesticquantitysuppliedisgreaterthanthedomesticquantitydemanded,Isolandsellssteeltoothercountries.Thus,Isolandbecomesasteelexporter.
Althoughdomesticquantitysuppliedanddomesticquantitydemandeddiffer,thesteelmarketisstillinequilibriumbecausethereisnowanotherparticipantinthemarket:
therestoftheworld.Onecanviewthehorizontallineattheworldpriceasrepresentingthedemandforsteelfromtherestoftheworld.ThisdemandcurveisperfectlyelasticbecauseIsoland,asasmalleconomy,cansellasmuchsteelasitwantsattheworldprice.
Priceaftertrade
Pricebeforetrade
Worldprice
Figure9-2
INTERNATIONALTRADEINANEXPORTINGCOUNTRY.Oncetradeisallowed,thedomesticpricerisestoequaltheworldprice.Thesupplycurveshowsthequantityofsteelproduceddomestically,andthedemandcurveshowsthequantityconsumeddomestically.ExportsfromIsolandequalthedifferencebetweenthedomesticquan