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Many economists and policy makers are concerned about international differences in technology and labor quality, correctly seeing these issues as crucial to long term growth in living standards. Typically, international trade economists assume that technological knowledge is the same in all...
Persistent link: https://www.econbiz.de/10013237557
The core subjects of trade theory are the pattern and volume of trade: which goods are traded by which countries, and how much of those goods are traded. The first part of the paper discusses evidence on comparative advantage, with an emphasis on carefully connecting theory models to data...
Persistent link: https://www.econbiz.de/10013239950
The standard neoclassical model of trade theory predicts that international specialization will be jointly determined by cross-country differences in relative factor endowments and relative technology levels. This paper uses duality theory combined with a flexible functional form to specify an...
Persistent link: https://www.econbiz.de/10013246377