Svar till prof. Heckscher

Prof. Dr. Prof. Prof.

Heckscher–ohlin Trade Theory

Eli Heckscher (1919) and Bertil Ohlin (1933) laid the groundwork for substantial developments in the theory of international trade by focusing on the relationships between the composition of countries’ factor endowments and commodity trade patterns as well as the consequences of free trade for the functional distribution of income within countries. From the outset general equilibrium forms of a...

An Introduction into the SVAR Methodology: Identification, Interpretation and Limitations of SVAR models

This paper aims to provide a non-technical introduction into the SVAR methodology. Particular emphasize is put on the approach to identification in SVAR models, which is compared to identification in simultaneous equation models. It is shown that SVAR models are useful tools to analyze the dynamics of a model by subjecting it to an unexpected shock, whereas simultaneous equation models are bett...

Heckscher-Ohlin explained by Walras

The Heckscher-Ohlin model with arbitrary number of goods, factors and countries (consumers) and no restrictions on factor trading is shown to be equivalent to an exchange model whose goods are the productive factors while consumer’s indirect demands for factors are derived from their actual demands for consumption goods. This equivalence enables one to import properties like the pathconnectedne...

A Svar Approach for the Spanish Regions

Within the approaches that have been applied to assess the impact of public capital on economic growth, this paper estimates the dynamic effects of public infrastructures using a structural vector autoregressive (SVAR) methodology for the Spanish regions. From a methodological point of view, our work contains different innovative features with respect to the previous studies using VAR models. T...