英语翻译请各位英语高手翻译下,因为就要交稿了,急,Itisgenerallyacceptedpriorto1970thatadeteriorationinthetermsoftraderesultsinlowersocialwelfare.Inparticular,Prebisch[11]andSinger[12]haveexpressedthebas

Question

英语翻译
请各位英语高手翻译下,因为就要交稿了,急,
It is generally accepted prior to 1970 that a deterioration i n the terms of trade results in lower social welfare.In particular,Prebisch [11] and Singer [12] have expressed the basic concern with the terms of trade; the secular deteriorationi n the terms of tradef acing less developed countries (LDCs) leads to income and welfare losses.Batra and Pattanaik [2] nevertheless shows that a deterioration in the terms of trade in the presence of an intersectoral wage differential may raise welfare.Bhagwati and Brecher [5] demonstrate that a decline in the terms of trade can improve real income if capital is mobile internationally.Recently,Anam [1] obtains a similarlyi nterestingr esult for an economy engaging in quota-induced rent seeking activities.It is notable that none of these studies considers a key feature inherent in a typical LDC,namely,the existence of substantial urban unemployment.Thus,the purpose of this paper is to examine the welfare impacts of terms of trade losses for LDCs plagued by pervasive urban unemployment.The well-known Harris-Todaro[7 ] frameworko f sector-specificu nemployment is utilized.' In addition,we derive and contrast various welfare effects of a change in the terms of trade when a LDC pursues alternativei mports ubstitutionp olicies,i.e.,tariffsv s.quotas over the short vs.the long run.The paper is organized as follows.Section II develops the model and provides the transfor-mation relation between urban and rural outputs.Section III examines the welfare effects of an exogenous shift in the terms of trade for a tariff or quota-distortede conomy in the short run as well as in the long run.Finally,concluding remarks are set out in section
Conclusions This paper has examined the short-run and long-run welfare implications of an exogenous shift in the terms of trade for an economy plagued with substantial urban unemployment.It has been shown that the welfare effects of a terms of trade loss crucially depend on its impacts on urban unemployment,which in turn are determined by whether the economy is distorted by a tariff or a quota and whether capital is completely immobile or perfectly mobile.Our main result is that a deterioration in the terms of trade in the presence of urban unemployment may improve welfare.Thus,the orthodox argumentt hat the terms of tradel oss is welfare-reducingfa ils to hold in the present framework.W e have also demonstratedt he differentialw elfaree ffects of a terms of trade loss for a developing economy which adopts either one of the two major import substitution policies,i.e.,tariffs vs.quotas.The disparity in the welfare effect arises from the radically contrasting effects of the terms of trade loss on the domestic price ratio.Our analysis sheds light on the proper choice by policy makerso f trader estrictingp olicies in promotinge conomic growth of LDCs.

Answer 1

It is generally accepted prior to 1970 that a deterioration i n the terms of trade results in lower social welfare.In particular,Prebisch [11] and Singer [12] have expressed the basic concern with the terms of trade; the secular deteriorationi n the terms of tradef acing less developed countries (LDCs) leads to income and welfare losses.Batra and Pattanaik [2] nevertheless shows that a deterioration in the terms of trade in the presence of an intersectoral wage differential may raise welfare.Bhagwati and Brecher [5] demonstrate that a decline in the terms of trade can improve real income if capital is mobile internationally.Recently,Anam [1] obtains a similarlyi nterestingr esult for an economy engaging in quota-induced rent seeking activities.It is notable that none of these studies considers a key feature inherent in a typical LDC,namely,the existence of substantial urban unemployment.Thus,the purpose of this paper is to examine the welfare impacts of terms of trade losses
人们普遍认为1970年前恶化的贸易条件导致较低的社会福利.特别是,普雷维什[ 11 ]和歌手[ 12 ]表示基本关切的贸易条件; deteriorationi ñ世俗的条件tradef acing少不发达国家（ LDCs ）导致收入和福利的损失.巴特拉和Pattanaik [ 2 ]然而表明,恶化的贸易条件存在一个跨部门的工资差异可能引起的福利.巴格瓦蒂和布雷赫尔[ 5 ]表明,减少贸易条件的可以提高实际收入,如果国际资本的流动.最近,亚南[ 1 ] ,取得了similarlyi nterestingr esult的经济搞配额引起的寻租活动.值得注意的是,这些研究认为,一个主要特点所固有的一个典型的最不发达国家,即存在大量的城市失业问题.因此,本文件的目的是研究社会福利的影响贸易条件损失