The Possibility of Factor Price Equalization, Revisited
dc.contributor.author | Deardorff, Alan V. | en_US |
dc.date.accessioned | 2013-11-14T23:20:29Z | |
dc.date.available | 2013-11-14T23:20:29Z | |
dc.date.issued | 1991-03 | en_US |
dc.identifier.other | MichU DeptE ResSIE D277 | en_US |
dc.identifier.other | F110 | en_US |
dc.identifier.uri | https://hdl.handle.net/2027.42/100680 | |
dc.description.abstract | This paper derives a condition for factor price equalization (FPE) in a Heckscher-Ohlin model with many goods, factors, and countries. Using Dixit and Norman's integrated world economy (IWE), two sets, called lenses, are constructed: one spanned by the factor vectors used to produce goods in the IWE; the other spanned by the countries' factor endowments. If the factor-endowment lens ever passes outside the factor-use lens, then FPE is impossible. In this sense, therefore, FPE requires that factor endowments vary less across countries than factor intensities vary across industries. | en_US |
dc.description.sponsorship | Research Seminar in International Economics, Department of Economics, University of Michigan | en_US |
dc.relation.ispartofseries | Seminar Discussion Paper | en_US |
dc.subject | Prices | en_US |
dc.subject | Economic Models | en_US |
dc.subject | International Trade | en_US |
dc.subject.other | Neoclassical Models of Trade | en_US |
dc.title | The Possibility of Factor Price Equalization, Revisited | en_US |
dc.type | Working Paper | en_US |
dc.subject.hlbsecondlevel | Economics | en_US |
dc.subject.hlbtoplevel | Social Sciences | en_US |
dc.description.bitstreamurl | http://deepblue.lib.umich.edu/bitstream/2027.42/100680/1/ECON152.pdf | |
dc.owningcollname | Economics, Department of - Working Papers Series |
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Economics, Department of - Working Papers Series
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