1、2019/1/10,School of Business Shandong University (WeiHai),1,Classical Trade Theory,梁俊伟 山东大学（威海） 商学院,2019/1/10,School of Business,2,Key Hypothesis of Classical School,Labor is the single production factor Value is only created by Labor Trade is made because of the differentiation of productivity, say
2、, the technology.,2019/1/10,School of Business,3,Theorists,Adam Smith 有力地抨击了重商主义的主张，力主自由经济，奠定了自由贸易的理论基础。 提出了绝对优势理论，从供给角度为国际贸易理论的发展指明了方向。 Absolute Cost Absolute Advantage Trade Defects: neglecting the trade btwn some economies that one of them take absolute advantage in all products. David Ricardo Re
3、lative Cost Relative Advantage Trade,2019/1/10,School of Business,4,Ricardo Model,Hypothesis One factor_labor Homogenous in different industry in one nation Freely mobile intranationally, not internationally Constant returns to scale Complete competition in both product and factor market No transpor
4、tation cost and other transaction costs 2X2X1 model Linear Production function (proof required),2019/1/10,School of Business,5,AA-Model,Qi=fi(L) (i=x,y) X=axLx X=bxLx Lx+Ly=LA Y=ayLy Y=byLy,axbx ayby,2019/1/10,School of Business,6,RA-Model,ax/aybx/by, by/bxay/ax,2019/1/10,School of Business,7,Whats
5、good if trade?,2019/1/10,School of Business,8,X,Y,B,B,A,A,Eb,Ea,Closed Economy,直线型的PPF意味着机会成本固定不变； 斜率分别为-ay/ax和-by/bx; 封闭条件下的相对价格分别为:Pa=PXa/PYa= ay/ax; Pb= PXb/PYb= by/bx,2019/1/10,School of Business,9,International Eq Price,A,A,P1,P2,C2,C1,Ea,PW=PXw/PYw Pw=P1Pa,Xa,Ya,Xa,0,aXLA-Xa,P=PX/PY,Pa,XC-XP,2
6、019/1/10,School of Business,10,Xa,0,aXLA-Xa,P=PX/PY,Pa,Surplus Supply Curve of A in X,Surplus Demand Curve of B in X,Pb,Pw,International Eq Price,XC-XP,2019/1/10,School of Business,11,A,A,Ca,Ea,PW,D,X,X,Y,B,B,Cb,Eb,PW,F,Y,Trade Triangle,2019/1/10,School of Business,12,Trade Benefits: Aggregate Welfa
7、re,CIC of both A and B rise to a higher level Resource Distribution Set A as an exampleChange from Y to X will save 1/aY labor and meanwhile increase X output by (1/aY ) aX. After trade at the world price, A can gain the total Y by (aX/aY)PW(why?)(aX/aY)PW (aX/aY)Pa=1,2019/1/10,School of Business,13
8、,Real Wages,Closed Economy Complete competition makes the wage equal. normal wage: wa=pXa.aX=pya.ay Real wage: wa/pXa=aX wa/pYa=ayOpen Economy normal wage: wa=pXw.aX Real wage: wa/pXw=aX wa/pYw=pXw.aX/pYw=pwaxay (deduction required),2019/1/10,School of Business,14,Empirical Research,2019/1/10,School of Business,15,Empirical Research,2019/1/10,School of Business,16,Empirical Research,2019/1/10,School of Business,17,Empirical Research,GDA Mac Dougall,1951, “British and American Export: A Study Suggested by the Theory of Comparative Costs”, Economic Journal, Vol.61, pp.697-724.,
