Uncertain lifetimes and convergence in a two-country Heckscher–Ohlin model
نویسندگان
چکیده
منابع مشابه
Uncertain lifetimes and convergence in a two-country Heckscher-Ohlin model
In a two-country infinite-horizon model, with two traded goods and two factors of production and no international borrowing and lending, there is no convergence of incomes if there is factor-price equalization. With factor-price equalization, the Euler equations of the two economies become identical. I show that in such a set-up if agents have a non-zero probability of death, then we do get con...
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ژورنال
عنوان ژورنال: Mathematical Social Sciences
سال: 2015
ISSN: 0165-4896
DOI: 10.1016/j.mathsocsci.2015.08.002