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The neoclassical ambiguity in the specific factor model

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  • James Melvin
  • Robert Waschik

Abstract

An alternative diagrammatic mechanism is developed to illustrate the effect of output price changes on input prices, particularly the return to labour, in a two-good, three-factor specific factor model.

Suggested Citation

  • James Melvin & Robert Waschik, 2001. "The neoclassical ambiguity in the specific factor model," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 10(3), pages 321-337.
    • Handle: RePEc:taf:jitecd:v:10:y:2001:i:3:p:321-337
    DOI: 10.1080/09638190110061339
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    References listed on IDEAS

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    1. Mussa, Michael, 1974. "Tariffs and the Distribution of Income: The Importance of Factor Specificity, Substitutability, and Intensity in the Short and Long Run," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1191-1203, Nov.-Dec..
    2. Leamer, Edward E. & Levinsohn, James, 1995. "International trade theory: The evidence," Handbook of International Economics, in: G. M. Grossman & K. Rogoff (ed.), Handbook of International Economics, edition 1, volume 3, chapter 26, pages 1339-1394, Elsevier.
    3. Grossman, Gene M & Levinsohn, James A, 1989. "Import Competition and the Stock Market Return to Capital," American Economic Review, American Economic Association, vol. 79(5), pages 1065-1087, December.
    4. Jones, Ronald W. & Neary, J. Peter & Ruane, Frances P., 1983. "Two-way capital flows : Cross-hauling in a model of foreign investment," Journal of International Economics, Elsevier, vol. 14(3-4), pages 357-366, May.
    5. Jones, Ronald W & Kierzkowski, Henryk, 1986. "Neighborhood Production Structures, with an Application to the Theory of International Trade," Oxford Economic Papers, Oxford University Press, vol. 38(1), pages 59-76, March.
    6. Amano, Akihiro, 1977. "Specific Factors, Comparative Advantage and International Investment," Economica, London School of Economics and Political Science, vol. 44(174), pages 131-144, May.
    7. 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 955-967, Sept./Oct.
    8. Khandker, A Wahhab, 1981. "Multinational Firms and the Theory of International Trade and Investment: A Correction and a Stronger Conclusion," American Economic Review, American Economic Association, vol. 71(3), pages 515-516, June.
    9. Berglas, Eitan & Jones, Ronald W., 1977. "The export of technology," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 7(1), pages 159-202, January.
    10. 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.
    11. Ruffin, Roy & Jones, Ronald, 1977. "Protection and real wages: The neoclassical ambiguity," Journal of Economic Theory, Elsevier, vol. 14(2), pages 337-348, April.
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    Cited by:

    1. David Atkin, 2013. "Trade, Tastes, and Nutrition in India," American Economic Review, American Economic Association, vol. 103(5), pages 1629-1663, August.
    2. Robert S. Chirinko & Debdulal Mallick, 2014. "The Substitution Elasticity, Factor Shares, Long-Run Growth, and the Low-Frequency Panel Model," CESifo Working Paper Series 4895, CESifo.
    3. Fraser, Iain & Waschik, Robert, 2013. "The Double Dividend hypothesis in a CGE model: Specific factors and the carbon base," Energy Economics, Elsevier, vol. 39(C), pages 283-295.
    4. Feng Dai & Songtao Wu & Ling Liang & Zifu Qin, 2016. "Bilateral Trade under Environmental Pressure: Balanced Growth," Journal of Industry, Competition and Trade, Springer, vol. 16(2), pages 209-231, June.
    5. Lin, Yu-Hsuan, 2021. "A classroom experiment on the specific factors model," International Review of Economics Education, Elsevier, vol. 37(C).
    6. Iain Fraser & Robert Waschik, 2010. "The Double Dividend Hypothesis in a CGE Model: Specific Factors and Variable Labour Supply," Working Papers 2010.02, School of Economics, La Trobe University.
    7. Hacer Simay Karaalp-Orhan & Orhan Sevcan Günes, 2016. "The Effect of Foreign Trade on Real Wages: The Case of Turkey," Prague Economic Papers, Prague University of Economics and Business, vol. 2016(4), pages 411-426.

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    Keywords

    Neoclassical Ambiguity; Specific Factors;

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