International Trade, the Informal Sector, and Welfare

Sugata Marjit and Saibal Kar

in The Outsiders

Published in print March 2011 | ISBN: 9780198071495
Published online September 2012 | e-ISBN: 9780199081257 | DOI:
International Trade, the Informal Sector, and Welfare

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This chapter deals with trade in informal commodities and measures the welfare levels under various exogenous shocks. The chapter is essentially divided into two parts. The first part offers a full-employment model of trade in the vintage of the traditional Hecksher–Ohlin–Samuelson framework with full-employment in all the sectors of the economy, but with the standard characterization of a segmented labour market. The second part introduces the possibility of open unemployment.

Keywords: informal production; exogenous shocks; full-employment model; trade; tariffs; Hecksher–Ohlin–Samuelson framework; open unemployment; welfare

Chapter.  11308 words. 

Subjects: Economic Development and Growth

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