ABSTRACT
The global welfare economics of international trade contains a handful of propositions the best known of which state that:
These propositions were originally established for ®nite economies of the Arrow±Debreu±McKenzie kind; see Kemp and Wan (1972, 1976, 1986). However, it is now known that they remain valid for doubly in®nite economies of the overlapping generations (OLG) type; see Kemp and Wolik (1995), also Kemp and Wong (1995).
