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Trade, Growth, and Convergence in a Dynamic Heckscher-Ohlin Model

Bajona, Claustre; Kehoe, Timothy - In: Review of Economic Dynamics 13 (2010) 3, pp. 487-513

In models in which convergence in income levels across closed countries is driven by faster accumulation of a … productive factor in the poorer countries, opening these countries to trade can stop convergence and even cause divergence. We …. Divergence can occur for parameter values that would imply convergence in a world of closed economies and vice versa. Second …

Persistent link: https://www.econbiz.de/10008504403

Neoclassical Growth and Commodity Trade

Cunat, Alejandro; Maffezzoli, Marco - In: Review of Economic Dynamics 7 (2004) 3, pp. 707-736

We construct a dynamic Heckscher-Ohlin model in which the initial distribution of production factors across economies makes factor price equalization impossible. The model produces dynamics similar to those of the neoclassical growth model. However, free trade prevents identically parameterized...

Persistent link: https://www.econbiz.de/10005085506

Adult Nutrition and Growth

Abdus, Salam; Rangazas, Peter - In: Review of Economic Dynamics 14 (2011) 4, pp. 636-649

We provide microeconomic foundations for the commonly assumed subsistence constraint on consumption and demonstrate that the theory is consistent with several important features of development. In principle, subsistence is consistent with different combinations of food consumption, energy...

Persistent link: https://www.econbiz.de/10008515067