Thus trade economists have generally used the second-best argument against protection rather than for protection. Others, however, are a complete disaster.
I conclude that it was Hirschman who gave it the name that stuck.
The header should be precise. This then, in words, was precisely the statement that has come down to us as the Marshall-Lerner condition. The term "price-specie flow mechanism" entered the literature with Angellwho dealt with it in detail. I couldn't believe that anyone could have a 16 page essay on World Economics in my inbox 24hours later.
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That's a complete sentence, and it asserts something to be true, but as a thesis it's a dead end. Thank you for the help. When demand is price inelastic, the tax causes only a small fall in demand.
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These, to me, seem to be two sides of the same coin, predicting across countries which will export in an IRS industry, and across industries, which a given country will export. This is equally true in more complex cases.
It says that if the two countries have sufficiently dissimilar tastes each will specialize in the industry for which it has the larger home market. In spite of the fact that Herfindahl himself acknowledged Hirschman's prior contribution, his index was named the Herfindahl Index by Rosenbluth and the name stuck, even though Rosenbluth later tried to correct the error.
The first to call this a gravity model seems to have been Waelbroeckwhich includes p. Many other terms have been used with the same, or related, meanings, as listed herebut "fragmentation" seems to have caught on most widely.
Find articles and papers that support your argument, as well as opposing points of view. However, they also do not use the term "second best," and the point of their contribution is to argue for policies superior to trade policies.
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But if production subsidies are unavailable not just rejected politically, since that should in principle apply even more to a tariff, if it were fully understoodthen a second-best tariff will be beneficial if not too large.
Since these do not align in equilibrium with a single unit isocost line, they cannot be used in the same way, and they do not achieve the essential simplicity of Lerner's construction. Provide a plan of action but do not introduce new information The simplest and most basic conclusion is one that restates the thesis in different words and then discusses its implications.
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The next appearance of the condition was twenty years later still, in Lerner Johnson did not, of course, call this a Harberger triangle.
It is now often referred to as the "Lerner condition", although it has been mentioned by Marshall and formulated with even greater precision later by Mrs. Where, after we have arrived, we immediately lose the advantage Main traits of character a leader should have with examples from history Customer id:.
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