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Bubble Diagrams in Trade Theory

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  • Ronald W. Jones

Abstract

“Bubble” diagrams are quite useful in revealing some of the properties found in the competitive models of international trade. These diagrams use circles (bubbles) to indicate commodity outputs and connecting lines to indicate factor inputs. Models such as the 2×2 and n×n Heckscher–Ohlin models as well as the 3×2 (and extensions) Specific-Factors model are discussed. For example, a model with some factor mobility between countries (say capital into a foreign enclave) is discussed for both model types. As well, close analogies are made to issues in labor economics in which both skilled and unskilled labor are used as inputs.
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  • Ronald W. Jones, 2013. "Bubble Diagrams in Trade Theory," Pacific Economic Review, Wiley Blackwell, vol. 18(5), pages 561-573, December.
    • Handle: RePEc:bla:pacecr:v:18:y:2013:i:5:p:561-573
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    File URL: http://hdl.handle.net/10.1111/1468-0106.12040
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    1. Brati Sankar Chakraborty, 2009. "Protection And Real Rewards: Some Antinomies," Pacific Economic Review, Wiley Blackwell, vol. 14(1), pages 56-70, February.
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    5. Jones, Ronald W & Dei, Fumio, 1983. "International Trade and Foreign Investment: A Simple Model," Economic Inquiry, Western Economic Association International, vol. 21(4), pages 449-464, October.
    6. Ronald W. Jones, 2007. "Specific Factors And Heckscher-Ohlin: An Intertemporal Blend," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 52(01), pages 1-6.
    7. Jones, Ronald W, 1989. "Co-movements in Relative Commodity Prices and International Capital Flows: A Simple Model," Economic Inquiry, Western Economic Association International, vol. 27(1), pages 131-141, January.
    8. Kemp, Murray C & Wegge, Leon L F, 1969. "On the Relation between Commodity Prices and Factor Rewards," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 10(3), pages 407-413, October.
    9. Chipman, John S, 1969. "Factor Price Equalization and the Stolper-Samuelson Theorem," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 10(3), pages 399-406, October.
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    1. Ronald W. Jones, 2018. "On Blending Competitive Trade Models," World Scientific Book Chapters, in: International Trade Theory and Competitive Models Features, Values, and Criticisms, chapter 19, pages 319-361, World Scientific Publishing Co. Pte. Ltd..

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    JEL classification:

    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General

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