Advanced International Trade: Theory and Evidence

by Robert C. Feenstra

Trade is a cornerstone concept in economics worldwide. This updated second edition of the essential graduate textbook in international trade brings readers to the forefront of knowledge in the field and prepares students to undertake their own research. In Advanced International Trade, Robert Feenstra integrates the most current theoretical approaches with empirical evidence, and these materials are supplemented in each chapter by theoretical and empirical exercises.

Feenstra explores a wealth of material, such as the Ricardian and Heckscher-Ohlin models, extensions to many goods and factors, and the role of tariffs, quotas, and other trade policies. He examines imperfect competition, offshoring, political economy, multinationals, endogenous growth, the gravity equation, and the organization of the firm in international trade. Feenstra also includes a new chapter on monopolistic competition with heterogeneous firms, with many applications of that model. In addition to known results, the book looks at some particularly important unpublished results by various authors. Two appendices draw on index numbers and discrete choice models to describe methods applicable to research problems in international trade.

Completely revised with the latest developments and brand-new materials, Advanced International Trade is a classic textbook that will be used widely by students and practitioners of economics for a long time to come.


Updated second edition of the essential graduate textbook
Current approaches and a new chapter on monopolistic competition with heterogeneous firms
Supplementary materials in each chapter
Theoretical and empirical exercises
Two appendices describe methods for international trade research

Genres: Economics, Nonfiction

496 pages, Hardcover

First published December 2, 2003

About the author

Robert C. Feenstra (Robert Christopher Feenstra) is Professor of Economics at the University of California, Davis. A former editor of the Journal of International Economics, and currently an associate editor of that journal and the American Economic Review, he has edited eight books and published numerous articles on international trade. He also directs the International Trade and Investment research program at the National Bureau of Economic Research.

Reviews

[Daniel · Rating 3 out of 5]

I liked the integration of theory and empirics in this book. It shows you how the theories compare to results in the real world. Unfortunately, some of the theories don't do too well in this respect and there are entire sections that basically tell you that the economic models can't explain certain problems, such as increasing inequality in wages in the US. It is a bit disappointing that there is a lot on models that don't help you to explain real world results very much while there is little on the very interesting monopolistic competition models and nothing at all on Melitz' model on monopolistic competition with heterogeneous firms. (Of course this book was published in the same year Melitz published his papers.) Isn't it time for a 2nd edition after more than 10 years and interesting new developments?