Pioneers of reciprocal-demand analysis aspired to “climb the rigging of geometry and spy out the heavens” of international trade theory. Accordingly, they deployed offer-curve geometry to derive key theorems on the gains from trade, the efficiency of free-trade equilibrium, the effects of tariffs and technical progress on the terms of trade, and the specification of the optimum rate of the tariff.
Our Research Focus: Monetary History
Amanda L. Kramer
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