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Factor Price Changes And Imported Intermediate Goods

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Author Info
BRENDAN MURPHY
Abstract

The paper presents a diagrammatic analysis of the short-run and long-run effects of changes in the prices of imported intermediate goods on domestic factor prices. The analysis focuses on the role of the elasticities of substitution between imported inputs and domestic factors in determining short-run changes in wage and rental rates, and on the importance of the share of imports in the costs of production in determining the long-run changes. The possibility that all short-run changes in factor prices could be reversed in the long run is illustrated. [410]

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Publisher Info
Article provided by Korean International Economic Association in its journal International Economic Journal.

Volume (Year): 3 (1989)
Issue (Month): 4 (December)
Pages: 19-36
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Handle: RePEc:taf:intecj:v:3:y:1989:i:4:p:19-36

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  1. Jones, Ronald W & Scheinkman, Jose A, 1977. "The Relevance of the Two-Sector Production Model in Trade Theory," Journal of Political Economy, University of Chicago Press, vol. 85(5), pages 909-35, October. [Downloadable!] (restricted)
  2. Khang, Chulsoon, 1971. "An isovalue locus involving intermediate goods and its applications to the pure theory of international trade," Journal of International Economics, Elsevier, vol. 1(3), pages 315-325, August. [Downloadable!] (restricted)
  3. Mayer, Wolfgang, 1974. "Short-Run and Long-Run Equilibrium for a Small Open Economy," Journal of Political Economy, University of Chicago Press, vol. 82(5), pages 955-67, Sept./Oct. [Downloadable!] (restricted)
  4. A. D. Woodland, 1977. "A Dual Approach to Equilibrium in the Production Sector in International Trade Theory," Canadian Journal of Economics, Canadian Economics Association, vol. 10(1), pages 50-68, February. [Downloadable!] (restricted)
  5. Hosios, Arthur J., 1982. "Short-run and long-run equilibrium for a small open economy with intermediate goods," Journal of International Economics, Elsevier, vol. 13(1-2), pages 143-161, August. [Downloadable!] (restricted)
  6. Neary, J Peter, 1978. "Dynamic Stability and the Theory of Factor-Market Distortions," American Economic Review, American Economic Association, vol. 68(4), pages 671-82, September. [Downloadable!] (restricted)
  7. Neary, J Peter, 1978. "Short-Run Capital Specificity and the Pure Theory of International Trade," Economic Journal, Royal Economic Society, vol. 88(351), pages 488-510, September. [Downloadable!] (restricted)
  8. Ruffin, Roy & Jones, Ronald, 1977. "Protection and real wages: The neoclassical ambiguity," Journal of Economic Theory, Elsevier, vol. 14(2), pages 337-348, April. [Downloadable!] (restricted)
  9. Solow, John L, 1987. "The Capital-Energy Complementarity Debate Revisited," American Economic Review, American Economic Association, vol. 77(4), pages 605-14, September. [Downloadable!] (restricted)
  10. Burgess, David F, 1976. "Tariffs and Income Distribution: Some Empirical Evidence for the United States," Journal of Political Economy, University of Chicago Press, vol. 84(1), pages 17-45, February. [Downloadable!] (restricted)
  11. Jones, Ronald W. & Easton, Stephen T., 1983. "Factor intensities and factor substitution in general equilibrium," Journal of International Economics, Elsevier, vol. 15(1-2), pages 65-99, August. [Downloadable!] (restricted)
  12. Mussa, Michael, 1979. "The two-sector model in terms of its dual : A geometric exposition," Journal of International Economics, Elsevier, vol. 9(4), pages 513-526, November. [Downloadable!] (restricted)
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