Table of Contents Introduction 1 The Gain from International Trade 3 2 The Gains from Free Trade / Murray C. Kemp, Henry Y. Wan, Jr. 21 3 An Elementary Proposition Concerning the Formation of Customs Unions / Murray C. Kemp, Henry Y. Wan, Jr. 37 4 The Comparison of Second-Best Equilibria: The Case of Customs Unions / Murray C. Kemp, Henry Y. Wan, Jr. 41 5 The Gains from Trade When Markets are Possibly Incomplete / Murray C. Kemp, Kar-yiu Wong 47 6 The Gains from Free Trade for a Monetary Economy 73 7 The Gains from Trade for a Monetary Economy When Markets are Possibly Incomplete / Murray C. Kemp, Kar-yiu Wong 78 8 Trade Gains in a Pure Consumption-Loan Model 101 9 Gains from Trade with Overlapping Generations / Murray C. Kemp, Kar-yiu Wong 105 10 The Gains from International Trade in a Context of Overlapping Generations / Murray C. Kemp, Nikolaus Wolik 129 11 The Welfare Gains from International Migration 147 12 The Problem of Survival: An Open Economy / Murray C. Kemp, Ngo Van Long 152 13 The International Diffusion of the Fruits of Technical Progress / Murray C. Kemp, Yew-Kwang Ng, Koji Shimomura 160 14 On the Sharing of Trade Gains by Resource-Poor and Resource-Rich Countries / Murray C. Kemp, Michihiro Ohyama 167 15 The Interaction of Resource-Rich and Resource-Poor Economies / Murray C. Kemp, Ngo Van Long 189 16 Some Issues in the Analysis of Trade Gains 203 17 Variable Returns to Scale, Commodity Taxes, Factor-Market Distortions and Their Implications for Trade Gains / Murray C. Kemp, Takashi Negishi 218 18 Variable Returns to Scale, Non-Uniqueness of Equilibrium and the Gains from International Trade / Murray C. Kemp, Albert G. Schweinberger 230 19 The Gains from International Trade Under Imperfect Competition: A Conjectural Variations Approach / Murray C. Kemp, Masayuki Okawa 242 20 The International Diffusion of the Fruits of Technical Progress Under Imperfect Competition / Murray C. Kemp, Masayuki Okawa 253 21 Does the Set of Imperfectly Competitive General Equilibria Depend on the Choice of Price Normalization? 271 22 Learning by Doing: Formal Tests for Intervention in an Open Economy 274 23 Gains from Trade With and Without Lumpsum Compensation / Murray C. Kemp, Henry Y. Wan, Jr. 285 24 On Lumpsum Compensation / Murray C. Kemp, Henry Y. Wan, Jr. 296 25 Lumpsum Compensation in a Context of Incomplete Markets / Murray C. Kemp, Henry Y. Wan, Jr. 317 26 Lumpsum Compensation in a Context of Overlapping Generations / Murray C. Kemp, Nikolaus Wolik 323 27 The Static Welfare Economics of Foreign Aid: A Consolidation 333 28 Conditions for the Local Impotence of Lumpsum Transfers to Effect a Redistribution of Welfare Between Nations 356 29 The Transfer Problem in a Context of Public Goods / Murray C. Kemp, Kenzo Abe, Makoto Tawada 360 30 On the Optimal Timing of Foreign Aid / Murray C. Kemp, Ngo Van Long, Koji Shimomura 365 31 'Trade' or 'Aid'? / Murray C. Kemp, Koji Shimomura 379 Author Index 394 Subject Index 397