Christis G. Tombazos
Department of Economics
CONTENTS
(last updated: 02/09/2008 5:50)
(Selecting a hyperlink from
the following items will direct you to the relevant section of the web-page)
International trade theory,
endogenous global division of labor and inframarginal models of trade, trade
and labor market interactions, endogenous trade policy formation, applications
of duality and production theory to international trade
Research Activities
Executive
Director: Centre for
Increasing Returns and Economic Organisation (CIREO)
Editor:
Division of Labor
and Transaction Costs
Recent ARC Discovery Grants
2005-2007, A Neo-Heckscher-Ohlin Model of
Trade with Endogenous Production Patterns (CI: C. Tombazos)
Selection of Current
Projects
Opp, Marcus, Hugo F. Sonnenschein, and
Christis G. Tombazos “Rybczynski’s Theorem in the Heckscher-Ohlin World –
Anything Goes.” Revised and resubmitted to Journal of International Economics.
Abstract: We demonstrate
that Rybczynski’s classic comparative statics can be reversed in a
Heckscher-Ohlin world when preferences in each country favor the exported
commodity. This taste bias has empirical support. An increase in the endowment
of a factor of production can lead to an absolute curtailment in the production
of the commodity using that factor intensively, and an absolute expansion of
the commodity using relatively little of the same factor. This outcome – which
we call “Reverse Rybczynski” – implies immiserizing factor growth. We present a
simple analytical example that delivers this result with unique pre- and
post-growth equilibria. In this example, production occurs within the cone of
diversification, such that factor price equalization holds. We also provide
general conditions that determine the sign of Rybczynski’s comparative statics.
Harris,
N. Mark, Laszlo Matyas, and Christis G. Tombazos “Production Profile
Compatibility in a Dynamic Gravity Model of Trade.”
Abstract: The extent to which what
countries produce makes them ‘compatible’ to trade is an issue that has so far
eluded the popular Gravity framework of international exchange. Efforts to
account for exogenous sources of comparative advantage, via regressors such as
per capita GDP, do not seem to adequately capture either differential
technologies or differential factor endowments across countries (see Melitz, European Econ. Review, 2007). At the
same time, the recent findings of Debaere (Journal
of Intern. Econ., 2005) suggest that reliance on a new trade theory
justification for the model does not itself justify the presumption that the
degree of specialization across countries is sufficiently uniform or pronounced
to render them, ceteris paribus, equally trade compatible. To address this
long-standing weakness of the Gravity model we introduce a dynamic
specification that relies on trade reciprocity to account for the extent to
which the production profiles of different countries are trade compatible. The
model is estimated using an APEC panel of data for the years 1973 to 2000. Our
results provide strong support for the view that the neglected measure of
production profile compatibility plays a important role in the Gravity setting.
Tombazos, Christis G., and Dingsheng Zhang “Specialisation, Trade
in Intermediate Goods, and Wage Inequality.”
Abstract: Using a model that recognizes
the prevalent cross-country specialization in production and the intermediate
nature of all traded products, we investigate the effect of observed trends in
the prices of ordinary intermediate and semi-final imports on the wage
differential between skilled and unskilled labor in the
Recent Publications
2008 Corden,
Max W., Peter Forsyth, and Christis G. Tombazos “Distinguished Fellow of the
Economic Society of Australia 2008, Yew-Kwang Ng.” Economic Record 84, 265, (2008): 267-272.
2007 Tombazos,
C. G. “Specialisation, the Intermediate Nature of Traded Commodities, and the
Myth of Import Driven Wage Inequality in the
2006 Tombazos,
C. G. and Stephen Miller “Returning to the Classical Tradition: The Relevance
and Application of Inframarginal Analysis to Development Economics.” In Inframarginal Contributions to Development
Economics, edited by Christis G. Tombazos, and Xiaokai Yang.
2006 Tombazos,
Christis G., and Xiaokai Yang, eds. Inframarginal
Contributions to Development Economics. Edited by James Buchanan, Yew-Kwang
Ng and Xiaokai Yang. Vol. 3, Increasing
Returns and Inframarginal Economics.
2006 Tombazos,
Christis G. “Xiaokai Yang: Some Recollections.” Division of Labour and
Transaction Costs 1, no. 2, June, (2006): 219.
2006 Tombazos,
C. G. “In Defence of Infamarginal Economics.” Economic Papers 2006,
25(2), 196-204.
2006 Tombazos,
C. G. “Marginal Vs. Inframarginal Analysis and the Theory of Distribution Vs.
the Development of a Theory of Economic Organisation.” Economic Papers 2006,
25(2), 101-116.
2005 Tombazos,
C. G., X. Yang, and D. Zhang. “A Neo-Heckscher Ohlin Model of Trade with
Endogenous Production Patterns.” Economic Record, 81(255), 2005,
S71-81.
2005 Tombazos,
C. G. “A Revisionist Perspective of European Research in Economics.” European
Economic Review, 49(2), 2005, 251-277 (leading).
2005 Tombazos,
C. G. “Division of Labor and Corner Solutions in Positive Trade Theory”, in An Inframarginal Approach to Trade Theory,
edited by Xiaokai Yang, Wenli Cheng, Heling Shi and Christis G. Tombazos.
2005 Yang,
X., W. Cheng, H. Shi, and C. G. Tombazos, eds. An Inframarginal Approach to Trade Theory. Edited by James
Buchanan, Yew-Kwang Ng and Xiaokai Yang, Increasing
Returns and Inframarginal Economics.
Recent Software
2004 "Market
Distortions and International Trade Policy: Mathematical Treatment and Dynamic
Animations" (with Brian Chapman).
SEMESTER 1, 2008
Microeconomic Theory (ECC4650 Honours subject)
The
online evaluation page for the 2008 edition of ECC4650 can be found here.
Please complete during June 4, 2008 to June 18,2008.
1. Items on
Reserve at Matheson Library
2. Electronic handouts -
the following documents may not be available throughout the year
Utility Maximisation: A Three-dimensional Perspective Using Mathematica
Handout 1 - Optimisation and Duality
Handout 2 - Income and Substitution Effects
Handout 3 - Problem Set on Consumer Choice and Production Theory
Handout
4 - Solutions to Problem Set on Cons. Choice and Prod. Theory: pg 1,
pg 2,
pg 3,
pg 4,
pg 5,
pg 6,
Problem set 1 - correction
Handout
6 - Problem Set on General Equilib.Two-Part Tariffs and Moral Hazard
Handout
7 - Solutions to Problem Set on Gen. Equil., Two-Part Tariffs and Moral Hazard:
pg 1, pg 2, pg 3, pg 4, pg 5, pg 6, pg 7, pg 8, pg 9
SEMESTER 2, 2008
International Trade Policy (ECC4690 Honours subject)
The
online evaluation page for the 2008 edition of ECC4690 is not yet available.
1.
Items on Reserve at Matheson Library
2. Electronic handouts (will
be released as needed)
Handout 1 - The Optimality of Free Trade in the Case of a Small Economy
Handout 2 - Consumption Externalities
Handout
3 - Light-weight Articles for Discussion (these articles will not be
distributed)
Handout 4 - Dynamic Non-equivalence of Common Trade Barriers
Handout 5 - Summary of "On Exports and Economic Growth"
Handout 6 - Trade Policy and Employment
Handout 7 - Models of Endogenous Trade Policy Formation
Handout 8 - Talking About a Revolution (article by P. Krugman published in "Slate")
Handout 9 - Liberalisation Overheads
Mathematical
Economics (ECC3840 - Undergraduate subject)
The online evaluation page for the 2008 edition of ECC4650 is not yet available.
1. Items on Reserve at Matheson Library
2. Electronic handouts (will be released as needed)
3. Problem Sets
Education
B.S. (Summa Cum Laude), M.A., Ph.D. (1995) The Ohio State University
Contact Details
Christis
G. Tombazos
Department
of Economics
Clayton,
Victoria 3800
Phone: ++ 61 (03) 9905-5166
Fax: ++ 61 (03) 9905-5476
Christis.Tombazos@BusEco.monash.edu.au
The Case of the Ambient
Atmosphere
In this section I host the
outstanding documentary “Ambient Atmosphere” by Cypriot journalist Makarios Drousiotis. This documentary
examines the quality of political discourse and the state of journalistic
integrity in
Rudd versus
Howard: the clash of the populists
The Federal initiative to develop a Research Quality Framework
Click here
for updates on the Federal Governments initiative to develop a Research Quality
Framework, and click here
to view the 165 submissions. For my submission scroll down to code RQF010088.
Articles and Links
Micro-regulation
of Universities Ignores Real Issues by Monash Vice Chancellor Richard Larkins (Appeared in the Sydney Morning Herald on Dec. 16., 2005)
The
Mismanagement of Research Funds, Why this Article Deserves $4,000, and the Impact
of Sunspots on Australia's Balance of Trade by Christis G. Tombazos (Back on this web site
by popular demand. Humorous piece dealing with a serious issue,
dedicated to those who will find it more disturbing than amusing. Published
long before the RQF was an acronym with a familiar sound)
Australian
Universities: Moscow on the Molonglo by Max Corden (One of a few published pieces that recognise the
self-contradictory education policy of the federal government)
Research
floored by full Nelson by Stuart
Macintyre (On the Nelson-ARC
fiasco. An excellent premise for a new “Yes Minister” episode)
Glyn Davis and Melbourne University's New
Direction
Australian International University (Spoof
site. Yet, sadly, at least on some counts, truth is stranger than fiction)
What
follows is a picture from the Faculty of Business and Economics’ 2007 “Awards
Night”. As noted on the invitations, the theme of the evening was “Soaring to
Global Excellence”. Subtlety and elegance…subtlety and elegance!
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