The concept of factor intensity has played a key role in the development of international trade theory. The factor proportions utilized in the production of commodities differ from activity to activity. Some commodities employ a higher ratio of capital to labor than do others, and the basic...

Part I -- Chapter 1: Introduction -- Chapter 2: Trade and Time Zones – What We Know -- Part II : The Time and The Pattern of Trade -- Chapter 3: Time Zone Differences and Comparative Advantage in Ricardian Model -- Chapter 4: Time Zone Differences and Trade in Heckscher-Ohlin Setup -- Chapter...

General equilibrium model of international trade has profoundly impacted various sub-disciplines of economics such as development economics, public economics, and environmental economics, among many others. These models continue to inspire younger generations of researchers and are used as...

Theoretical discussion on compensating mechanisms involving the Pareto criterion that address inequality rather than absolute welfare is non-existent in trade literature. In a simple HOS model we consider tax-transfer policies that keep the pre-trade degree of inequality unchanged between...