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Trade and Foreign Capital: Income Redistribution in Simulated Trade Models

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Author Info
Michael Thompson
Abstract

The present paper compares quantitative impacts of a free trade "program" of 1% price changes across simulations of general equilibrium models of countries and aggregates of skilled labor. These simulations of factor proportions and specific factors models illustrate two quantitative properties of competitive models of production and trade. First, factor intensity has a much stronger influence than factor substitution on the pattern of income redistribution due to price changes and foreign capital. Second, price changes associated with trade have a much stronger impact than foreign capital.

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Paper provided by International Studies Program, Andrew Young School of Policy Studies, Georgia State University in its series International Studies Program Working Paper Series, at AYSPS, GSU with number paper0208.

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Length: 22 pages
Date of creation: 01 May 2002
Date of revision:
Handle: RePEc:ays:ispwps:paper0208

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Related research
Keywords: free trade; foreign capital;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  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. Shoven, John B. & Whalley, John, 1972. "A general equilibrium calculation of the effects of differential taxation of income from capital in the U.S," Journal of Public Economics, Elsevier, vol. 1(3-4), pages 281-321, November. [Downloadable!] (restricted)
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  3. Clark, Don P. & Hofler, Richard & Thompson, Henry, 1988. "Separability of capital and labor in US manufacturing," Economics Letters, Elsevier, vol. 26(2), pages 197-201. [Downloadable!] (restricted)
  4. Thompson, Henry, 1997. "Free trade and income redistribution across labor groups: Comparative statics for the U.S. economy," International Review of Economics & Finance, Elsevier, vol. 6(2), pages 181-192. [Downloadable!] (restricted)
  5. Chang, Winston W, 1979. "Some Theorems of Trade and General Equilibrium with Many Goods and Factors," Econometrica, Econometric Society, vol. 47(3), pages 709-26, May. [Downloadable!] (restricted)
  6. Thompson, Henry, 1994. "An investigation into the quantitative properties of the specific factors model of international trade," Japan and the World Economy, Elsevier, vol. 6(4), pages 375-388, December. [Downloadable!] (restricted)
  7. Henry Thompson, 1995. "Free trade and income redistribution in some developing and newly industrialized countries," Open Economies Review, Springer, vol. 6(3), pages 265-280, July. [Downloadable!] (restricted)
  8. Thompson, Henry & Clark, Don P., 1983. "Factor movements with three factors and two goods in the U.S. economy," Economics Letters, Elsevier, vol. 12(1), pages 53-60. [Downloadable!] (restricted)
  9. Ethier, Wilfred, 1974. "Some of the theorems of international trade with many goods and factors," Journal of International Economics, Elsevier, vol. 4(2), pages 199-206, May. [Downloadable!] (restricted)
  10. Clark, Don P & Thompson, Henry, 1990. "Factor Migration and Income Distribution in Some Developing Countries," Bulletin of Economic Research, Blackwell Publishing, vol. 42(2), pages 131-40, April.
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