Based on a many-industry Chamberlinian-Ricardian trade model with iceberg trade costs, this note examines the impact of two modes of economic integration: a reduction in trade costs, and technical standardization due to information spillover. It is shown that these two modes of economic...

The classical Wage Fund (Capital or Credit) framework is integrated with the simplest text-book version of the Ricardian model of comparative advantage, generating a model that replicates important features of the neo-classical production theory involving capital and labour without neo-classical...

Credit rationing in the presence of asset inequality affects production and trade pattern in this paper, but not in the conventional way. A Ricardian general equilibrium framework with heterogeneous levels of asset ownership is developed to show that more equal asset distribution may contract...