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Adam Smith is commonly referred to as one of the first who thought of foreign trade in terms of an international division of labour, whereby each country specialises in the production of certain goods. It is argued that he made a strong case for foreign trade on this basis. In this article, I...
Persistent link: https://www.econbiz.de/10012990740
We propose a quantitative framework for the analysis of industrialization in which specialization in manufacturing or …
Persistent link: https://www.econbiz.de/10009621748
This paper investigates the relation between agglomeration of economic activity and the pattern of specialization of … advantage drives specialization, while absolute advantage drives agglomeration. …
Persistent link: https://www.econbiz.de/10009623423
Germany exhibits a strong reduction in domestic manufacturing production depth (bazaar effect). I argue that this reflects an unbundling of comparative advantage. Using a model where Ricardian plus Heckscher-Ohlin-type comparative advantage relates to fragments of production, I compare a trading...
Persistent link: https://www.econbiz.de/10012777491
, employment and value-added in manufacturing increase with policy (1), but contract with policy (2). Therefore, specialization of …
Persistent link: https://www.econbiz.de/10012867341
in these models. In this paper, I provide evidence that vertical specialization is a salient feature in the international … from trade beyond those currently accounted for in standard models. I quantify the gains from vertical specialization … incorporated into many state-of-the-art quantitative trade models, and has been shown to deliver significant additional gains from …
Persistent link: https://www.econbiz.de/10011637447
welfare, on patterns of specialization and trade, and on factor prices. Models examined include the Ricardian Model and the … fragmentation into simple theoretical models of international trade, the paper finds the effects of fragmentation on national …
Persistent link: https://www.econbiz.de/10014218270
This paper develops a general equilibrium model with endogenous specialization and endogenous theft behavior to …
Persistent link: https://www.econbiz.de/10005050526
Persistent link: https://www.econbiz.de/10013388208
This paper documents the evolution of the international relationships of individual U.S. states along three dimensions: trade, migration, and finance. We examine how specialized or diversified state economies differ in terms of the products they export and with whom they trade, the origins of...
Persistent link: https://www.econbiz.de/10012968002