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Factor Content Functions and the Theory of International Trade

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  • Neary, J Peter
  • Schweinberger, Albert G

Abstract

This Paper introduces the concepts of direct and indirect factor trade utility functions and uses them to derive Marshallian and Hicksian factor content functions, which express the quantities of factors embodied in net exports as a function of the economy's factor prices and endowments. The properties of these functions are discussed and they are used to derive a number of new results. In particular, it is shown that, in certain circumstances, the existence of gains from trade is necessary and sufficient for the Heckscher-Ohlin theorem to hold in its factor content form.

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Review of Economic Studies.

Volume (Year): 53 (1986)
Issue (Month): 3 (July)
Pages: 421-32

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Handle: RePEc:bla:restud:v:53:y:1986:i:3:p:421-32

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Cited by:
  1. Daniel M. Bernhofen, . "The Empirics of General Equilibrium Trade Theory: What Have We Learned?," Discussion Papers 10/24, University of Nottingham, GEP.
  2. Devereux, John & Connolly, Michael, 1996. "Commercial policy, the terms of trade and the real exchange rate revisited," Journal of Development Economics, Elsevier, vol. 50(1), pages 81-99, June.
  3. J Anderson & J.P. Neary, 1998. "The Mercantilist Index of Trade Policy," CEP Discussion Papers dp0413, Centre for Economic Performance, LSE.
  4. Neary, J. P., 1997. "Pitfalls in the Theory of International Trade Policy: Concertina Reforms of Tariffs, and Subsidies to High-Technology Industries," Papers 97/26, College Dublin, Department of Political Economy-.
  5. J. Peter Neary, 2000. "International Trade and the Environment - Theoretical and Policy Linkages," Working Papers 200018, School Of Economics, University College Dublin.
  6. Flôres Junior, Renato Galvão, 2008. "Are CGE Models Still Useful in Economic Policy Making?," Economics Working Papers (Ensaios Economicos da EPGE) 674, FGV/EPGE Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil).
  7. Daniel Bernhofen, . "Predicting the Pattern of International Trade in the Neoclassical Model: A Synthesis," Discussion Papers 08/24, University of Nottingham, GEP.
  8. Pantzios, Christos J. & Taylor, Timothy G., 1998. "Trade Liberalization And Japanese Agricultural Import Policies," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 23(02), December.
  9. Richard B. Freeman, 1995. "Are Your Wages Set in Beijing?," Journal of Economic Perspectives, American Economic Association, vol. 9(3), pages 15-32, Summer.
  10. Gilroy, Bernard Michael, 1991. "Faktorgehalt und internationaler Handel
    [Factor content and international trade]
    ," MPRA Paper 21037, University Library of Munich, Germany.

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