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The Generalized Theory of Transfers and Welfare: Bilateral Transfers in a Multilateral World

Jagdish N. Bhagwati; Richard A. Brecher; Tatsuo Hatta

Title:
The Generalized Theory of Transfers and Welfare: Bilateral Transfers in a Multilateral World
Author(s):
Bhagwati, Jagdish N.
Brecher, Richard A.
Hatta, Tatsuo
Date:
Type:
Articles
Department:
Economics
Volume:
73
Permanent URL:
Book/Journal Title:
American Economic Review
Abstract:
We demonstrate that the phenomenon of immiserizing transfers from abroad (and the analytically symmetric phenomenon of enriching transfer payments) in the presence of market stability can arise only if there is a distortion characterizing the economy in question.
Subject(s):
Economics
Item views:
42
Metadata:
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