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Demographics in Dynamic Heckscher-Ohlin Models : Overlapping Generations Versus Infinitely Lived Consumers
Kehoe, Timothy J. - 2007
This paper contrasts the properties of dynamic Heckscher-Ohlin models with overlapping generations with those of models with infinitely lived consumers. In both environments, if capital is mobile across countries, factor price equalization occurs after the initial period. In general, however,...
Persistent link: https://www.econbiz.de/10012778283
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Trade-in-Goods and Trade-in-Tasks : An Integrating Framework
Baldwin, Richard - 2010
Our paper integrates results from trade-in-task theory into mainstream trade theory by developing trade …
Persistent link: https://www.econbiz.de/10013145015
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Do Multinational Firms Adapt Factor Proportions to Relative Factor Prices?
Lipsey, Robert E.; Kravis, Irving B.; Roldan, Romualdo A. - 2021
It has been alleged that multinational firms fail to adapt their methods of production to take advantage of the abundance and low price of labor in less developed countries and therefore contribute to the unemployment problems of these countries. This paper asks two questions: do multi-national...
Persistent link: https://www.econbiz.de/10013232175
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The Factor Content of Trade
Davis, Donald R.; Weinstein, David E. - 2021
Study of the factor content of trade has become a laboratory to test our ideas about how the key elements of endowments, production, absorption and trade fit together within a general equilibrium framework. Already a great deal of progress has been made in fitting these pieces together....
Persistent link: https://www.econbiz.de/10013248234
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Trade and Capital Flows : A Financial Frictions Perspective
Antras, Pol; Caballero, Ricardo J. - 2021
The classical Heckscher-Ohlin-Mundell paradigm states that trade and capital mobility are substitutes, in the sense that trade integration reduces the incentives for capital to flow to capital-scarce countries. In this paper we show that in a world with heterogeneous financial development, the...
Persistent link: https://www.econbiz.de/10013213448
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The Heckscher-Ohlin Model between 1400 and 2000 : When it Explained Factor Price Convergence, When it Did Not, and Why
O'Rourke, Kevin H.; Williamson, Jeffrey G. - 2001
There are two contrasting views of pre-19th century trade and globalization. First, there are the world history scholars like Andre Gunder Frank who attach globalization 'big bang' significance to the dates 1492 (Christopher Colombus stumbles on the Americas in search of spices) and 1498 (Vasco...
Persistent link: https://www.econbiz.de/10014175442
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Us Trade and Wages : The Misleading Implications of Conventional Trade Theory
Edwards, Lawrence - 2010
Conventional trade theory, which combines the Heckscher-Ohlin theory and the Stolper-Samuelson theorem, implies that … expanded trade between developed and developing countries will increase wage inequality in the developed countries. This theory … conventional theory to the assumption of incomplete specialization and find evidence that is not consistent with it. Since 1987 …
Persistent link: https://www.econbiz.de/10013142076
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What Role for Empirics in International Trade?
Davis, Donald R.; Weinstein, David E. - 2021
pure theory. At one time, this might have been rationalized by the paucity of empirics in the field or its weak theoretical …
Persistent link: https://www.econbiz.de/10013229336
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The Heckscher-Ohlin Model between 1400 and 2000 : When it Explained Factor Price Convergence, When it Did Not, and Why
O'Rourke, Kevin H.; Williamson, Jeffrey G. - 2021
There are two contrasting views of pre-19th century trade and globalization. First, there are the world history scholars like Andre Gunder Frank who attach globalization 'big bang' significance to the dates 1492 (Christopher Colombus stumbles on the Americas in search of spices) and 1498 (Vasco...
Persistent link: https://www.econbiz.de/10013235600
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A Note on the Empirical Implementation of the Lens Condition
Bernard, Andrew B.; Robertson, Raymond; Schott, Peter K. - 2021
Deardorff [Journal of International Economics 36 (1994) 167-175] offers an intuitively appealing test for factor price equality (FPE). He demonstrates that FPE is impossible if the set (i.e., lens) of points defined by regional factor abundance vectors does not lie within the set of points...
Persistent link: https://www.econbiz.de/10013233476