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The Le Châtelier Principle in the Theory of International Trade

In: International Trade and Labor Markets Welfare, Inequality and Unemployment

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  • Udo Kreickemeier

Abstract

This chapter shows in a general framework the broad applicability of the Le Châtelier Principle in international trade theory and policy. By stressing the formal similarity between a small open economy and a price taking multi-product firm, the chapter generalizes earlier applications of the Le Châtelier Principle in the trade literature. In addition, it is shown how some of the Le Châtelier results, which in their established form are locally valid only, can be generalized to discrete parameter changes.

Suggested Citation

  • Udo Kreickemeier, 2017. "The Le Châtelier Principle in the Theory of International Trade," World Scientific Book Chapters, in: International Trade and Labor Markets Welfare, Inequality and Unemployment, chapter 5, pages 117-140, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813224919_0005
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    Keywords

    International Trade; Inequality; Labor Markets; Unemployment; Offshoring;
    All these keywords.

    JEL classification:

    • J01 - Labor and Demographic Economics - - General - - - Labor Economics: General

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