The possibility of factor price equalization, revisited
نویسندگان
چکیده
منابع مشابه
Factor Price Equalization? the Cointegration Approach Revisited
Factor price equality across countries is an important implication of the Heckscher-Ohlin-Samuelson model of international trade. Although an influential theoretical result, the model has received surprisingly little empirical support. Burgman and Geppert (1993) argue that this might be due to the neglect of the nonstationarity property of the time series under consideration. Using a cointegrat...
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The idea of treating factor price equalization as a situation, where the distribution of factors among countries is compatible with an equilibrium in an integrated world economy, has been refined to give the so-called lens condition for factor price equalization. In this paper, we show that the lens condition may be used to give estimates for the probability of factor price equalization when fa...
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The Heckscher-Ohlin-Vanek Theorem has been used to predict the factor contents of trade under the ideal assumption that factor prices are equalized. Available empirical studies have shown that the measured contents of factor trade significantly differ from the predicted factor contents of trade. This paper employs a more general definition of factor abundance in the presence of factor price dis...
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ژورنال
عنوان ژورنال: Journal of International Economics
سال: 1994
ISSN: 0022-1996
DOI: 10.1016/0022-1996(94)90063-9