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fragmentation. Whereas the growth in North-South trade has been labeled "horizontal globalisationʺ, fragmentation stands for the … "vertical globalisationʺ. First fragmentation is introduced into a Ricardian model with one factor of production in a small … functions where we introduce one or two components. As a result, it seems to be clear that fragmentation is changing …
Persistent link: https://www.econbiz.de/10001596620
fragmentation. Whereas the growth in North-South trade has been labeled "horizontal globalisation", fragmentation stands for the … "vertical globalisation". First fragmentation is introduced into a Ricardian model with one factor of production in a small … functions where we introduce one or two components. As a result, it seems to be clear that fragmentation is changing …
Persistent link: https://www.econbiz.de/10010509348
Inclusivity is perhaps the single most important human need to facilitate and demonstrate fairness for all members in an open and free society. When this principle need is compromised by appearances of unscrupulous self-interested privileged elites to perpetuate a systemic widening disparity...
Persistent link: https://www.econbiz.de/10014175063
We analyze economies with quotas and other quantity-based distortions. We show that any feasible, distorted allocation of resources can be implemented as the competitive equilibrium of an economy with quotas. Unlike economies with wedges, economies with quotas are constrained efficient and thus...
Persistent link: https://www.econbiz.de/10015398147
Developing a three-sector and four-factor general equilibrium model, this paper offers an explanation of wage inequality in a vertically fragmented production structure typical of off-shore outsourcing to developing countries like China or India. The model characterizes a typical developing...
Persistent link: https://www.econbiz.de/10013076486
In models of pure theory of international trade, no unique production structure is dominant. By grafting a specific factor structure onto a Heckscher-Ohlin framework, in a hybrid general equilibrium production model, this paper presents theoretical results with implications such as: (a) the...
Persistent link: https://www.econbiz.de/10013076495
This paper explores the implications on trade and wage inequality of introducing financial capital or credit in the standard Ricardian model of production, where a given amount of start-up credit is used to employ sector specific skilled and unskilled workers following the Wage Fund approach of...
Persistent link: https://www.econbiz.de/10012509555
Persistent link: https://www.econbiz.de/10009739674
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