The following remarks concentrate on an aspect of the relation between trade and factor movements, which has been neglected in the literature so far. It is the intertemporal dimension of factor movements, which in turn is closely linked to the relation between real and financial capital...

In this paper I investigate the effect of different stages of international trade on market structure and prices when production involves overhead cost, markets are intransparent, and customers have to search for offers. I show that two stages have to be distinguished: a first stage where each...

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...

The Marshall/Lerner condition is examined in a context in which full account is taken of the intertemporal optimizing conditions inherent in the balance of payments. This analysis suggests that the condition has only a very limited significance.

The paper incorporates the efficiency-wage theory into an otherwise standard trade model. The model accounts for sector-specific job rents and involuntary unemployment while preserving decisive properties of the competitive fullemployment approach. The key results from the literature can be...

The recent economic policy debate in Germany emphasizes the impact of globalization of the world economy on the German labor market. This paper provides an empirical analysis of the relationship between trade and the labor market in West Germany for the period from 1970 until German...

An n-commodity, n-factor, A"-country log-linear model is developed, with identical Cobb-Douglas production coefficients and identical consumer expenditure shares across countries, in which factor endowments are such as to permit positive production of all commodities in all countries, hence...