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labor and then to complete division of labor. The paper also discusses the effects of tariff in a model where trade regimes … comparative advantage relative to the other two countries and/or which has low transaction efficiency may be excluded from trade. …
Persistent link: https://www.econbiz.de/10005794672
In the paper we introduce technological comparative advantage and transaction costs into the Heckscher-Olin (HO) model and refine the HO theorem, the Stolper-Samuelson theorem, the Rybczynski theorem, and factor equalization theorem. The refined core theorems can be used to accommodate recent...
Persistent link: https://www.econbiz.de/10005838198
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