The Heckscher-Ohlin-Vanek Theorem and International Factor Price Differences
AbstractThis paper demonstrates the importance of accounting for absorption of inputs in a model of factor-augmenting international productivity differences when examining the consistency of international factor price differences with the Heckscher-Ohlin-Vanek (HOV) theorem. It is shown that the absence of such accounting has non-trivial implications in the form of introducing a bias in the calculation of productivity parameters based on the HOV theorem. Copyright Springer Science + Business Media, Inc. 2005
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Bibliographic InfoArticle provided by Springer in its journal Open Economies Review.
Volume (Year): 16 (2005)
Issue (Month): 4 (October)
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Web page: http://www.springerlink.com/link.asp?id=100323
Heckscher-Ohlin-Vanek theorem; factor underutilization; trade in intermediates;
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