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Title:Identity Creating Goods and Free Trade PDF Logo
Authors:Clemenz, Gerhard
Issue Date:2010
Series/Report no.:Beiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Foreign Direct Investment, Employment and Wages B4-V1
Abstract:Identity creating or cultural goods are characterized by a positive consumption network externality and increased utility because of doing what the reference group expects. Different countries have different cultural goods. It is shown that moving from autarky to free trade a country may suffer a welfare reduction if consumption of its own cultural good is reduced in favor of a foreign cultural good, regardless of comparative advantage. On the other hand, welfare may be increased even if the domestic cultural good disappears altogether.
Subjects:Cultural goods
free trade
JEL:F10
F19
F13
Document Type:Conference Paper
Appears in Collections:Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie

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